SHREE CEMENT LIMITED (SHREECEM) Stock - Complete Technical Analysis - Nov 27, 2024

"SHREE CEMENT STOCK ANALYSIS Bullish Patterns, Support, Resistance & Price Targets Partha Kuchan

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. Comprehensive Stock Analysis of SHREE CEMENT LIMITED (SHREECEM)

Current Price: 25,421.85

P/E Ratio: 50.7

Dividend Yield: 0.41%

ROE: 12.8%

Support and Resistance Levels

Support: The stock is currently near its recent support level of 24,803. If it breaks lower, the 23,500 level (52-week low) could provide more substantial support.

Resistance: Resistance lies around 25,500, with further resistance near 30,737.75.

Key Technical Indicators

MACD: Negative but showing some stabilization.

RSI: 58.56near neutral, signaling potential for both upward and downward movement.

ADX: 20.62, indicating weak trend strength.

Stochastic: Momentum is high, suggesting potential for a short-term rally but caution against a reversal.

Recent Price Movement

Bullish Harami Pattern: A reversal pattern that could signal a potential upward move.

Volume: Low volatility observed with an ATR between 2,000-2,500.

Moving Averages:

Short-term EMAs are below the price, which could support a near-term uptrend if the stock breaks above resistance.

Conclusion: SHREE CEMENT may be setting up for a short-term rally but must maintain above 25,000 for momentum to continue. Watch closely for any signs of a trend reversal.