H.G. Infra Engineering Limited (HGINFRA) Stock - Complete Technical Analysis - Nov 13, 2024

H.G. Infra Engineering Stock Analysis: Support, Resistance & 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. H.G. Infra Engineering Limited (HGINFRA) has recently shown notable price swings, currently trading at 1197.80. The stock has fallen 36.28% from its 52-week high and is nearing key support levels. The daily chart shows fluctuations between the 1,177.70 and 1,328.60 range, highlighting its current volatility. The stock is experiencing bearish momentum, with the MACD in negative territory and RSI signaling potential oversold conditions.

In terms of support and resistance, 1,177.00-1,180.00 serves as the immediate support zone, with 1,280.00-1,300.00 acting as resistance. A break below the support could lead to a further decline, possibly to the 1,095.00 level, while breaking above the resistance zone could signal an uptrend, targeting the 1,400.00 level. Indicators like Stochastic Oscillator and Williams %R also indicate that the stock may be nearing a reversal, suggesting possible buying opportunities if it finds support near 1,177.00.

In conclusion, HGINFRA's short-term price action appears range-bound, with potential for a reversal at current support. However, the bearish trend will need to be overcome for sustained upside momentum. Keep an eye on the resistance at 1,280.00-1,300.00 to confirm any bullish breakout.