Bank of Maharashtra (MAHABANK) Stock - Complete Technical Analysis - Nov 19, 2024

Bank of Maharashtra (MAHABANK) Technical Analysis Key Support & Resistance Levels Trading Insigh

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. Bank of Maharashtra (MAHABANK) is currently facing a moderate level of volatility, trading at 52.43, which is 28.67% below its 52-week high of 73.50. The stock recently showed fluctuations, opening at 51.79 and closing at 52.43 on Nov-19, 2024, with a high of 53.25 and low of 51.74. These movements suggest that the stock is in a range-bound consolidation phase, where the market is trying to find its direction.

Support levels for MAHABANK can be found around 51.50, and 50.00, while resistance appears at 53.00 and 54.00. A breakout above 54.00 could open the door for a potential rally toward 55.00, while failure to hold above 51.00 could lead to a retest of the 47.50 level.

Key technical indicators such as the RSI, currently at 45.33, show a neutral stance, suggesting that the stock is neither overbought nor oversold. The MACD has crossed into negative territory, suggesting bearish momentum, but its important to watch for any potential turnaround. The Stochastic oscillator and Williams Percent Range point to the stock potentially nearing oversold conditions, which could result in a short-term bounce.

The ADX value of 26.26 indicates that there is a moderate trend in place. Combined with the ATR, which is hovering between 4.50 and 5.50, the volatility suggests that short-term traders should expect price swings and prepare for possible reversals.

In terms of moving averages, the stock is currently below both its 50-day and 200-day Exponential Moving Averages, indicating a bearish bias in the longer term. The EMA of 50.00 could act as an immediate support level, while the price needs to break above the 53.00 to 54.00 zone for any meaningful upward momentum.

For traders, the key levels to monitor are 50.00 for support and 53.00 for resistance. A break in either direction could signal further price action. Pay attention to technical signals for any potential trend changes in the short-term.