CEAT Limited (CEATLTD) Stock - Complete Technical Analysis - Sep 06, 2024

CEAT Limited Stock Analysis: Key Support

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 Limited (CEATLTD) is currently trading at 2,856, reflecting a generally positive technical outlook. The RSI indicates that the stock is in a balanced zone, suggesting a stable momentum without being overbought or oversold. The ADX confirms a strong trend, supporting the current bullish phase.

The MACD is in positive territory, signaling that the momentum remains strong. The Awesome Oscillator also confirms this with its positive reading. However, the Commodity Channel Index (CCI) and Williams Percent Range (WPR) suggest the stock is nearing overbought levels, which could indicate a potential short-term pullback or consolidation.

Support levels are observed around 2,700, with additional support at 2,600. Resistance is identified near 2,950, with further resistance at 3,180. The stock is trading above its short-term moving averages, indicating a positive trend, but traders should monitor for possible corrections or consolidation as indicated by the overbought signals from some indicators.

Overall, CEAT Limited shows strong upward momentum, but caution is advised as the stock approaches overbought conditions.