Uniparts India Limited (UNIPARTS) Stock - Complete Technical Analysis - Aug 30, 2024

Uniparts India Stock Analysis Support, Resistance

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. Uniparts India Limited (UNIPARTS) currently trades at 491, with significant technical indicators and chart patterns providing insight into its performance. The stock is showing a Doji candlestick pattern today, indicating market indecision, complemented by a Spinning Top pattern, further emphasizing this uncertainty. The support levels are identified at 478.82, 461.43, and 416.48 based on Classic Pivot calculations, while resistance levels are found at 523.77, 551.33, and 596.28. The Camarilla Pivot points suggest near-term support at 492.08 and resistance at 500.32, with a central pivot point of 506.38.

Key technical indicators include the MACD, which shows a bearish signal with its line below the signal line, suggesting downward momentum. The RSI is at a neutral level, indicating the stock is neither overbought nor oversold. The ADX suggests a weak trend strength, implying that the stock may be consolidating. Moving averages reveal a bearish trend, with the stock trading below most EMAs and SMAs, including the 50-day EMA at 501.91 and the 200-day SMA at 537.44. The Ichimoku Base Line and Volume Weighted Moving Average further reinforce resistance near the current price level. Overall, while the stock is near support and may show potential for short-term recovery, the broader trend remains cautious with resistance overhead.