United Spirits Limited (UNITDSPR) Stock - Complete Technical Analysis - Nov 19, 2024

United Spirits Technical Analysis Key Support, Resistance & Chart Patterns 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. United Spirits Limited (UNITDSPR), currently priced at 1487.40, has shown resilience with a 44.12% rise from its 52-week low, but remains 9.72% below its 52-week high of 1647.5. Despite this, recent technical indicators show mixed signals. The RSI stands at 53.32, indicating neutrality, while the ADX at 24.44 suggests weak trend momentum. The stock has recently formed a Shooting Star candlestick pattern, a bearish reversal signal, but also shows a Three White Soldiers pattern, pointing to potential bullish continuation.

The Stochastic RSI at 85.38, combined with a high CCI, suggests the stock could be overbought and due for a short-term pullback. However, longer-term support is provided by the 200-day EMA at 1336.06, showing overall bullish sentiment.

Traders should focus on support levels near 14401430 and resistance at 1505. If the price dips, it could offer an entry point, but any moves above the resistance level would signal a continued bullish trend. With the stock's volatility driven by recent price swings, it's important to keep an eye on these key levels and watch for further confirmation from momentum indicators.