Fertilizers and Chemicals Travancore Limited (FACT) Stock - Complete Technical Analysis - Nov 28, 2024

FACT Stock Technical Analysis: Bullish Continuation with Key Levels to Watch Partha Kuchana - Fin

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. Fertilizers and Chemicals Travancore Limited (FACT) stock has been experiencing notable movement, with a recent surge above 894. The formation of a "Three White Soldiers" bullish continuation pattern suggests that the stock could see further upside. In recent trading, FACT has been able to hold above key moving averages, including the 10-day, 20-day, and 50-day exponential moving averages, signaling positive momentum. Additionally, the RSI is approaching a neutral zone, leaving room for potential gains, though the Commodity Channel Index (CCI) indicates overbought conditions.

Despite the bullish outlook, the stock's ADX is on the lower side, suggesting that the trend may not be very strong. The Awesome Oscillator and MACD remain negative, warning that bearish pressure could return if momentum falters. Traders should closely monitor the support level around 865 and resistance near 918. If the price fails to hold above the support, it may indicate a potential reversal.

With high volatility, as indicated by the ATR, FACT is prone to larger price movements, making it suitable for short-term trading. A break above resistance at 918 could trigger more gains, while a drop below 865 could signal a reversal.