Lux Industries Limited (LUXIND) Stock - Complete Technical Analysis - Nov 25, 2024

Lux Industries Stock Analysis: Key Support & Resistance Levels Technical Indicators Breakdown

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. Lux Industries Limited (LUXIND) stock analysis shows that the price is currently at 1,804.30, significantly below its 52-week high of 2,493. The stock has gained 68.35% from its low, indicating strong recovery.

Support and Resistance:

Immediate support is at 1,742.8 and 1,729.35 from recent price action. If the stock breaches this level, the next support is at 1,527.5.

Resistance is seen at 1,836.88 and at the Classic Pivot R1 of 2,236.6, indicating that the stock has room for upside if it surpasses these levels.

Indicators:

MACD remains bearish, showing negative momentum and a possible continuation of downtrend.

RSI is low at 39.06, suggesting potential for a rebound if the stock receives buying interest.

ADX is at 24.32, showing weak trend strength, and Stochastic RSI indicates an oversold condition, suggesting potential for a price reversal.

Candlestick Patterns:

A Doji and Spinning Top candle pattern suggest market indecision, signaling potential consolidation or a reversal in trend.

Volatility:

The ATR indicates high volatility, which could result in significant price swings. Traders should be prepared for larger intraday moves.

Conclusion: For traders, focus on support at 1,742.8 and resistance at 1,836.88. The stock is showing signs of potential recovery but remains volatile and indecisive. Waiting for clearer trend signals might be a safer strategy before entering trades.