Radico Khaitan Limited (RADICO) Stock - Complete Technical Analysis - Nov 19, 2024

Radico Khaitan Stock Technical Analysis Key Support & Resistance Levels Price Action 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. Radico Khaitan Limited (RADICO) is currently trading at 2,256, which is 10.61% below its 52-week high. The recent price action shows some volatility, with recent lows around 2,217.65 and highs reaching up to 2,295.40. The Bullish Harami pattern formed recently suggests the possibility of a reversal or consolidation phase.

In terms of momentum indicators, the MACD is showing positive values, indicating upward momentum. However, the Relative Strength Index (RSI) remains neutral at just below 50, pointing to indecision in the market. The Average Directional Index (ADX) reading of 23.52 suggests weak trend strength, meaning the market may be in a consolidation phase, waiting for a breakout.

Key support levels are near 2,200, and a break below this level could trigger a further decline toward the 2,150-2,100 range. On the upside, if the price surpasses the resistance near 2,300, there is potential for further gains, with the next major resistance at the 52-week high of 2,524.

The stock's volatility is significant, with the Average True Range (ATR) showing large swings, implying that rapid price movements are likely. Given this, investors should be cautious of sudden price surges or drops. With the Stochastic RSI and Williams Percent Range suggesting the stock might be nearing oversold conditions, there is a potential for a rebound if the support levels hold.

Overall, RADICO presents a mixed short-term outlook, but if it maintains support above 2,200, it could show upward momentum. Traders should keep an eye on both support and resistance levels, as a breakout in either direction could lead to significant moves.