ITD Cementation India Limited (ITDCEM) Stock - Complete Technical Analysis - Nov 14, 2024

ITD Cementation Technical Analysis Key Support, Resistance, and Price Targets for ITDCEM Stock N

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. ITD Cementation India Limited (ITDCEM) is showing a mixed technical picture at present. Trading at 517.75, it is below its 52-week high, indicating recent weakness in price action. The stock is below its 10-day and 20-day EMAs, with the Relative Strength Index (RSI) in the oversold territory. The MACD is in negative territory, reinforcing the short-term bearish momentum. However, its long-term trend remains bullish, supported by a strong book value and solid profitability ratios like ROE and ROCE.

The immediate support for the stock is at around 515-520, and a price drop below this could trigger further weakness. Resistance is seen at around 536, marked by the 10-day EMA. A strong break above this level could open up potential for the stock to challenge the 50-day EMA near 546. Volatility is elevated, as reflected by the Average True Range (ATR), suggesting that price swings could be sharp. Traders should watch these key levels closely to gauge the next move.

While the short-term momentum appears weak, ITDCEMs fundamentals offer a solid foundation for future growth. If the stock can hold its support and clear resistance, there may be opportunities for gains in the medium term.