Kalpataru Projects International Limited (KPIL) Stock - Complete Technical Analysis - Nov 21, 2024

Kalpataru Projects Stock Analysis Key Support & Resistance Levels KPIL Technical Outlook

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. Kalpataru Projects International Limited (KPIL) has seen a price dip of 20.98% from its 52-week high of 1449, currently trading at 1145. Despite the recent drop, the stock is still 82.77% above its 52-week low of 626.45, reflecting a large potential for growth if the trend reverses.

In recent price action, the stock fluctuated between 1137.75 and 1196.95, establishing a short-term range where 1144 stands as a strong support level. The resistance appears near 1195, and the stock seems to be stuck in a consolidation phase. Technical indicators like the RSI are signaling an oversold condition, which might trigger a potential bounce around current support levels. However, the low ADX suggests weak momentum, implying that price action may continue to remain sideways or face shallow corrections.

The MACD indicator confirms a bearish outlook, and with the Momentum and Commodity Channel Index (CCI) also pointing downward, we might expect further downward pressure unless there is a strong reversal at the support level. Other oscillators such as the Awesome Oscillator and Williams Percent Range further corroborate this bearish sentiment. The key levels to watch are the 1144 support, which might offer a possible entry point, and the 1194 resistance, which could limit upside momentum. Traders should stay alert for any signs of a reversal or sustained break below the support level for further downside risks.