CEAT Limited (CEATLTD) Stock - Complete Technical Analysis - Nov 12, 2024

CEAT Limited Stock Analysis: Technical Indicators & Price Predictions for 2024 NSE Analysis

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. CEAT Limiteds stock is currently at 2,771, which is 15.06% lower than its 52-week high and 34.47% higher than its 52-week low. Over the last few trading sessions, CEAT has witnessed price volatility, including a decline on November 12, 2024, when it dropped from 2,847.45 to 2,756 before settling at 2,771, signaling a potential correction in the stock.

In terms of technical indicators, the Relative Strength Index (RSI) is showing that CEAT is approaching oversold levels at 42.41. This could point toward an upcoming reversal if market conditions stabilize. However, the stock is facing resistance from its Exponential Moving Averages (EMAs), including the 10-period EMA at 2,816 and the 20-period EMA at 2,843. These levels have capped upward movements recently, making them key resistance zones.

Looking at the Average Directional Index (ADX), which stands at 34, we can see that the stock is in a trend, but the strength of this trend is weakening, indicating that momentum may slow. Additionally, MACD and the Commodity Channel Index (CCI) are signaling bearish tendencies. On the positive side, the Stochastic Oscillator is showing neutral momentum, but the Stochastic RSI indicates potential bullish momentum if the stock moves into oversold territory.

To sum up, CEAT is at an interesting juncture. It is holding steady above its 100-period EMA support at 2,802 but faces resistance in the 2,800-2,850 range. Watch for price action between 2,756 and 2,800 for potential signs of a reversal. If the stock manages to break above 2,850, it could target higher levels; otherwise, a drop below 2,756 could signal further downside.