Usha Martin Limited (USHAMART) Stock - Complete Technical Analysis - Nov 12, 2024

Usha Martin Stock Analysis: Key Support & Resistance Levels Revealed NSE Trading Insights

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. Usha Martin Limited is currently priced at 384.60, reflecting a phase of consolidation. The RSI around 44 suggests neutral momentum, showing no strong overbought or oversold conditions. ADX at 21 points to a weak trend, with prices moving sideways. The oversold conditions indicated by Stochastic %K near 20 and Williams %R at -92 could signal a potential reversal if demand builds.

Short-term bearishness is evident as the stock remains below critical EMAs (10, 20, 30), and MACD reveals a slowing bullish momentum. A possible resistance zone is near 410415, while support holds around 375, coinciding with several pivot levels. A move above 415 may confirm bullish sentiment, potentially sparking upward momentum. On the downside, a breach of 375 support could see further selling. VWMA around 413 could act as a decisive level, guiding traders on whether to expect a breakout or continued consolidation.

Traders should consider monitoring these price levels for breakouts or trend changes. A confirmed break above resistance might attract buyers, while sustained support around 375 would indicate stability in the current range.