DCM Shriram Limited (DCMSHRIRAM) Stock - Complete Technical Analysis - Sep 06, 2024

DCM Shriram Stock Analysis: Key Levels

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

In today's analysis of DCM Shriram Limited (DCMSHRIRAM), the stock is trading at 1,123, which is 7.19% below its 52-week high of 1,210 and 34.92% above its 52-week low of 832.

The current technical indicators suggest a mixed outlook. The stock is currently experiencing indecision, as indicated by today's Spinning Top candle pattern. The Average Directional Index (ADX) is strong, suggesting a robust trend, while the RSI is neutral, indicating neither overbought nor oversold conditions. The MACD is positive, indicating upward momentum, though it's worth noting the Stochastic RSI is very low, suggesting the stock might be oversold. The Awesome Oscillator supports the bullish trend, while the Williams Percent Range shows significant bearish pressure.

On the moving averages front, the stock is above its 10-day and 20-day Exponential Moving Averages (EMAs), which is generally bullish, but below its 50-day EMA, indicating a potential area of resistance. The Ichimoku Base Line is also showing potential resistance around 1,108, which could impact short-term price movements.

Support levels are likely around the 1,119 pivot point and the 1,039 to 1,044 range. Resistance may be found near the 1,137 to 1,211 range. The stock's ATR indicates high volatility, suggesting traders should be prepared for significant price swings. Overall, while there are bullish signs, the mixed signals from various indicators suggest caution and the need for close monitoring.