Hemisphere Properties India Limited (HEMIPROP) Stock - Complete Technical Analysis - Sep 10, 2024

Hemisphere Properties Technical Analysis: Support, Resistance, and Indicators 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.

Technical Analysis of Hemisphere Properties India Limited (HEMIPROP)

Hemisphere Properties India Limited is currently trading at 197. The stock has been experiencing significant fluctuations, trading 25.47% below its 52-week high of 264.95 and 80.18% above its 52-week low of 109.6.

Support and Resistance Levels:

Immediate Support: 194.48 (Classic Pivot S1) and 181.83 (Fibonacci Pivot S3)

Immediate Resistance: 206.75 (Classic Pivot P) and 216.27 (Fibonacci Pivot R1)

Moving Averages and Indicators:

The stock is currently trading below key moving averages, with the 10-day EMA at 199.13 and the 50-day SMA at 206.14. The current price is closer to the 200-day EMA of 188.35, indicating a bearish trend.

The MACD is negative, suggesting that the stock is in a bearish phase, while the RSI is at 44.78, indicating neutral conditions but close to the oversold region.

The ADX is at 16.18, which suggests a weak trend. The Stochastic %K and Stochastic RSI are both in oversold territory, reflecting potential buying opportunities but also cautioning against a strong uptrend.

The Commodity Channel Index (CCI) and Awesome Oscillator are also negative, further confirming the bearish sentiment.

Chart Patterns:

The stock has recently shown a pattern of being in a consolidation phase. The price is finding resistance near the 200-day EMA and support near the lower Fibonacci levels.

Volume and Volatility:

The Average True Range (ATR) indicates moderate volatility, with recent values ranging from 15.62 to 27.18. This suggests that the stock may experience fluctuations within these ranges.

In summary, HEMIPROP is currently trading below its moving averages and showing bearish signals from several indicators. However, the oversold conditions in the Stochastic indicators might indicate potential for a reversal. Traders should watch for a breakout above the resistance levels or a drop below the support levels to gauge the next moves.