Hindustan Foods Limited (HNDFDS) Stock - Complete Technical Analysis - Sep 10, 2024

Hindustan Foods Limited (HNDFDS) Stock Analysis: Bullish Trends & Key Support/Resistance Levels

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. Let's dive into the technical analysis of Hindustan Foods Limited (HNDFDS) stock. The current price is 590, which is trading about 6.38% below its 52-week high of 629.95 and 26.28% above its 52-week low of 467.00.

Starting with trend indicators, the Average Directional Index (ADX) is showing a reading of 24.48, indicating a strong trend, though it's not extremely high. The Relative Strength Index (RSI) is at 58.66, suggesting that the stock is currently in a neutral to slightly bullish zone. The Stochastic %K is at 51.02 and the Stochastic RSI Fast is at 42.99, which also supports a neutral outlook.

In terms of moving averages, the stock is above the Exponential Moving Averages (EMA) of 10, 20, and 30 days, indicating a short-term bullish trend. The price is also comfortably above the 50, 100, and 200-day EMAs, which further suggests a positive longer-term trend. The Simple Moving Averages (SMA) corroborate this with the price trading above the 10, 20, 30, and 50-day SMAs.

The Ichimoku Base Line is positioned at 569.5, and the stock is trading above this level, signaling that the current price is in a bullish phase. The Hull Moving Average and Volume Weighted Moving Average both suggest that the trend is positive.

Pivot points and chart patterns indicate that the stock has strong support around the 573 level and faces resistance near 601. The classic and Fibonacci pivot points suggest a potential upward move if the stock can break above the resistance. However, the Camarilla and Woodie pivots indicate that short-term resistance is more likely around the 584 to 594 range.

Volatility, as measured by the Average True Range (ATR), is currently moderate, reflecting a period of relative calm compared to past highs. This stability might suggest that traders should watch for potential breakout or breakdown points based on price action around key support and resistance levels.

In summary, Hindustan Foods Limited is showing bullish signals in both short-term and long-term trends with good support levels and reasonable resistance levels to watch. Keep an eye on the price action around the 573 support and the 601 resistance for potential trading opportunities.