Welspun Living Limited (WELSPUNLIV) Stock - Complete Technical Analysis - Nov 21, 2024

Welspun Living Stock Analysis: Key Levels & Insights for Traders

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.

At its current price of 147.44, Welspun Living Limited shows potential for both risk and reward. The stock is under pressure, with bearish momentum evident in the MACD and Awesome Oscillator. RSI at 38.64 signals weak momentum, but oversold levels in stochastic indicators suggest a possible rebound in the near term. The price is below key short- and medium-term moving averages, reinforcing resistance at 153 and immediate support around 145.

A spinning top candlestick pattern reflects indecision, a signal that traders should wait for a breakout direction. The ADX at 32.19 indicates a moderately strong trend. Given the 20.21% rise from its 52-week low, the stock could stabilize if broader market conditions improve. Day traders may find opportunities within the 145153 range, but volatility, as highlighted by ATR, demands vigilance. A sustained break below 145 may attract further selling pressure, while a move above 153 could provide a buying opportunity. For long-term players, patience is key as the stock seeks direction.