Godrej Industries Limited (GODREJIND) Stock - Complete Technical Analysis - Nov 19, 2024

Godrej Industries Stock Analysis: Key Levels & Indicators You Need to Know Technical Breakdown

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.

Godrej Industries Limited (GODREJIND) is currently trading at 1,027.50, which is 21.80% below its 52-week high and 59.91% above its 52-week low. The stock has experienced some volatility, with a significant surge seen on Nov 18th where the stock tested highs of 1,079.85 and closed near 1,023.80, suggesting bullish momentum. However, the MACD is still negative, signaling a bearish short-term trend. The RSI remains neutral, with no clear overbought or oversold signal, while the ADX indicates a weak trend.

In terms of moving averages, the stock is above the short-term 10-day and 20-day EMAs but below the longer-term 50-day and 200-day EMAs. This creates mixed signals for traders. Support is at the 925-950 range, with resistance close to 1,085-1,100. Traders should focus on these key levels for potential breakout opportunities. A break above 1,085 could signal a continuation of the uptrend, while a drop below 925 might indicate further downside risk.

Overall, Godrej Industries is at a critical juncture, and its next move will depend largely on how it reacts to support and resistance levels. Short-term traders should look for confirmation through price action near these levels to gauge the next directional move.