Man Infraconstruction Limited (MANINFRA) Stock - Complete Technical Analysis - Nov 22, 2024

Man Infraconstruction Limited (MANINFRA) Stock Analysis: Key Support & Resistance Levels Explained

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.

Man Infraconstruction Limited (MANINFRA) is showing signs of consolidation with increasing volatility. The current price is 182, which is significantly below its 52-week high of 249.3. The stock has faced several fluctuations in the last few days, with the recent range being between 167 and 184. This points towards some uncertainty in the short term.

The technical indicators show a mixed picture: the RSI is neutral, suggesting no extreme buying or selling pressure. The MACD is negative, pointing to possible bearish momentum, while the ADX indicates a weak trend, confirming the choppy price action. The stock is still trading below its short-term moving averages, highlighting resistance at levels around 183.07 and 180.58. For traders, the focus should be on the key support near 176, where the stock has bounced recently.

If the stock sustains above 176, it might attempt to retest resistance levels, with 184.60 being a short-term target. However, if it breaks the 176 support, further downside towards 164 might be seen. Traders should remain cautious and look for a confirmation of either a breakout above resistance or a breakdown below support before taking any action.