Cera Sanitaryware Limited (CERA) Stock - Complete Technical Analysis - Sep 06, 2024

Cera Sanitaryware Stock Analysis: Key Support

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.

Cera Sanitaryware Limited (CERA) is currently trading at 9,183, reflecting a challenging technical outlook. The RSI suggests that the stock is in a somewhat oversold condition, indicating potential for a rebound. However, other indicators present a more cautious scenario.

The MACD is in negative territory, which implies weakening momentum, and the Awesome Oscillator supports this with a bearish signal. The Commodity Channel Index (CCI) and Williams Percent Range (WPR) also show that the stock is heavily oversold, suggesting that the downward pressure might continue in the short term.

On the positive side, the ADX indicates a trend, though it's not particularly strong. The stock is trading below its short-term moving averages, pointing to a bearish trend.

Support levels are anticipated around 9,000, with further support at 8,400. Resistance is seen near 9,800, with additional resistance at 10,200.

Overall, while CERA shows potential for a short-term bounce due to oversold conditions, the prevailing trend remains bearish, and traders should remain cautious.