India Glycols Limited (INDIAGLYCO) Stock - Complete Technical Analysis - Aug 30, 2024

India Glycols (INDIAGLYCO) Stock Analysis: Is It Time to Buy or Sell NSE Technical 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.

India Glycols Limited (INDIAGLYCO) is currently trading at 1,388, which is slightly below its 52-week high of 1,399. The stock has shown impressive performance, being up 123.28% from its 52-week low of 621.45. Heres a detailed technical analysis of INDIAGLYCO:

Support and Resistance Levels:

Support Levels: Key support levels are observed at Classic Pivot S1 of 984.37, Camarilla Pivot S1 of 1,176, and Fibonacci Pivot S1 of 987.98.

Resistance Levels: Significant resistance levels include Classic Pivot R1 at 1,355.32, Woodie Pivot R1 at 1,406.58, and Fibonacci Pivot R2 at 1,358.93.

Moving Averages:

Exponential Moving Averages (EMAs): The stock is trading above its shorter-term EMAs, with the 10-day EMA at 1,301.06 and the 20-day EMA at 1,256.61, indicating a bullish trend.

Simple Moving Averages (SMAs): The 10-day SMA is at 1,299.2, and the 20-day SMA is at 1,260.02. The stock's price is above these moving averages, reinforcing the bullish sentiment.

Pivot Points:

Classic Pivot Point: 1,129.68

Camarilla Pivot Point: 1,129.68

Fibonacci Pivot Point: 1,129.68

Woodie Pivot Point: 1,155.31

Technical Indicators:

MACD: The MACD level is high, suggesting strong bullish momentum.

RSI (Relative Strength Index): The RSI is above 70, indicating that the stock may be overbought.

ADX (Average Directional Index): The ADX is high, reflecting a strong trend.

Stochastic Oscillator: The %K value is above 70, signaling overbought conditions.

Commodity Channel Index (CCI): The CCI is above 100, which points to strong upward momentum.

Awesome Oscillator: Positive value suggests that the current uptrend is strong.

Williams %R: The value is near -5.46, indicating overbought conditions.

Ultimate Oscillator: Neutral at 51.02, showing no clear overbought or oversold conditions.

Chart Patterns and Observations:

The stock has been trading above major moving averages and pivot points, indicating a bullish trend.

The high values of ADX and MACD confirm the strength of the current trend, while RSI and Stochastic Oscillator readings suggest potential overbought conditions.

Overall, INDIAGLYCO has shown strong bullish signals but watch out for potential overbought conditions as indicated by RSI and Stochastic readings. Traders should monitor support levels closely for potential entry points and resistance levels for profit-taking or stop-loss placement.