Vardhman Textiles Limited (VTL) Stock - Complete Technical Analysis - Sep 06, 2024

Vardhman Textiles Stock Analysis: Support, Resistance

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.

Welcome to todays technical analysis for Vardhman Textiles Limited. Currently trading at 483, the stock is 18.34% below its 52-week high of 592, and 42.81% above its 52-week low of 338. The price is below several key moving averages, with the 10-day EMA at 491.79, the 20-day EMA at 497.42, and the 50-day EMA at 499.86, indicating a bearish short-term trend. The 200-day EMA at 456.92 provides a long-term support level.

Support levels are seen around 461.05 based on classic pivot points, with additional support from Fibonacci and Camarilla pivots near 460.68 and 470.9, respectively. Resistance levels are expected near the 515.4 classic pivot point and 549.6, which is the first resistance level according to classic pivots.

The MACD is negative, indicating bearish momentum, while the RSI is at 40.86, suggesting the stock is nearing oversold conditions. The ADX is at 22.26, showing a weak trend strength, which could imply that the stock might be consolidating or range-bound. The stochastic indicators are also indicating oversold conditions, with the stochastic %K at 11.72 and stochastic RSI at 22.84.

The Average True Range (ATR) shows significant volatility, suggesting that the stock could experience large price swings. The Hull Moving Average at 483.56 and the Volume Weighted Moving Average at 497.94 are close to the current price, indicating potential areas of resistance and support.

Overall, Vardhman Textiles appears to be in a bearish phase with potential support around 461 and resistance near 515. Watch for a possible rebound or further downside based on market conditions and technical indicators.