Welspun Living Limited (WELSPUNLIV) Stock - Complete Technical Analysis - Nov 11, 2024

Welspun Living Stock Analysis: Support, Resistance & Key Technical Insights for Traders

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. Welspun Living Limited (WELSPUNLIV) has been experiencing a mixed trend, with its price currently at 157. Recent price movements reveal indecision, shown by the Doji and Spinning Top candlestick patterns. These indicate potential price reversal or consolidation. The stock's technical indicators reflect a neutral to slightly bearish outlook. The RSI is at 46, suggesting neither overbought nor oversold conditions, while the MACD is negative, pointing to bearish momentum.

Support for the stock is seen at 139.53 and 146.05, while resistance stands at 170.59 and 188.98. If the stock breaks through resistance, an uptrend could follow, while a fall below support might signal further downside potential. The average true range (ATR) of 8.94 to 10.10 suggests moderate volatility, and the stock has been oscillating near key moving averages, with the 50-day and 200-day SMAs adding to resistance.

In the short term, Welspun Living's stock is likely to experience volatility. Traders should watch for price action at support and resistance levels to make informed decisions about potential breakouts or reversals.