Ahluwalia Contracts (India) Limited (AHLUCONT) Stock - Complete Technical Analysis - Nov 22, 2024

Ahluwalia Contracts Stock Analysis: Key Support & Resistance Levels Unveiled

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.

Ahluwalia Contracts has seen a consistent decline, with the price 39.87% below its 52-week high. The Three Black Crows candlestick pattern confirms bearish momentum. Indicators such as RSI, Stochastic, and CCI are deeply oversold, suggesting a potential pause or reversal in the downtrend. However, MACD and Awesome Oscillator indicate the continuation of bearish momentum, supported by prices trading below key moving averages.

Key levels to watch include immediate support at 900, with potential downside to 870. Resistance zones are visible at 970 and 1020, aligning with EMAs and pivot-based calculations. The stock has been underperforming, as evident from its divergence below the 200-day SMA, indicating long-term weakness. While the ADX confirms trend strength, a reversal could be on the horizon if RSI moves out of the oversold zone and volumes increase. Traders should keep a close eye on price action near support zones to identify opportunities for entry.