ITD Cementation India Limited (ITDCEM) Stock - Complete Technical Analysis - Sep 10, 2024

ITD Cementation Stock Analysis: Bearish Signals and Support Levels NSE Technical Review

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.

ITD Cementation India Limited (ITDCEM) is currently trading at 481.10, which is about 18.45% below its 52-week high of 589.95 and 155.90% above its 52-week low of 188.00. The stock shows a mixed technical outlook.

Support and Resistance Levels: The key support levels are around 484.07, 413.68, and 293.98. On the resistance side, the stock faces hurdles at approximately 603.77, 653.08, and 772.78.

Technical Indicators:

MACD: Currently in a bearish phase, indicating that the momentum is negative.

RSI: At 34.51, this suggests that the stock might be oversold.

ADX: With an ADX of 19.8, the trend strength is weak.

Stochastic %K: Extremely low at 4.75, signaling oversold conditions.

Stochastic RSI: At 0.0, which indicates extreme oversold conditions.

Momentum: The negative momentum at -75.2 highlights weak buying interest.

CCI: The Commodity Channel Index of -271.32 confirms oversold conditions.

Awesome Oscillator: Currently negative at -14.39, reflecting bearish momentum.

Williams %R: At -95.37, it indicates the stock is oversold.

Bull Bear Power: The negative value of -75.52 suggests bearish pressure.

Ultimate Oscillator: The reading of 24.12 suggests a possible oversold condition.

Moving Averages: The stock is trading below its short-term (10-day and 20-day) moving averages and above its longer-term (100-day and 200-day) moving averages, which indicates a mixed trend. The stock is trading below its Exponential Moving Averages (10-day, 20-day, 30-day) but above the 200-day EMA, suggesting a potentially bearish short-term outlook with a longer-term bullish trend.

Hull Moving Average: At 484.15, the stock is trading slightly below this level, which could act as immediate resistance.

Volume and Volatility:

Average True Range (ATR): Shows increased volatility, with recent values fluctuating around 10.00, indicating the stock has a significant price movement range.

In summary, ITDCEM appears to be in a bearish phase with oversold technical indicators. Traders should watch for potential reversals near support levels, while resistance levels will be crucial to overcome for a bullish trend.