Dalmia Bharat Limited (DALBHARAT) Stock - Complete Technical Analysis - Nov 28, 2024

Dalmia Bharat Stock Technical Analysis: Key Support & Resistance Levels November 2024

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. Dalmia Bharat Limited (DALBHARAT) - A Closer Look at Technical Indicators

The stock of Dalmia Bharat is currently trading at 1819.30, a significant 25% below its 52-week high of 2430.70, reflecting recent price drops and potential downside risk. The technical analysis points to volatility in the stock's recent price movements. In the last five days, the stock has faced a range of highs and lows, with the most recent session closing lower after opening at 1836.50, highlighting a trend of price fluctuations.

The MACD and RSI are giving mixed signals. The MACD is negative, suggesting a bearish outlook, while the RSI remains neutral at 52.78. The Stochastic RSI, however, indicates overbought conditions, which could trigger a pullback in the near term. The Average Directional Index (ADX) at 19.4 suggests that the stock is lacking a strong trend, and thus, price movements could continue to be erratic.

Looking at moving averages, both short-term and long-term averages provide a mixed view. The 50-day and 100-day SMAs show resistance at higher levels, while shorter-term averages like the 10-day and 20-day are closer to the current price, suggesting potential price resistance in the near term.

Given the Bearish Engulfing pattern observed, traders should be cautious, especially if the stock fails to break above resistance levels around 1830-1850. Support levels near 1800-1760 should be watched closely, as a break below these levels could lead to further downside.

Conclusion: Dalmia Bharat appears to be under short-term pressure, with a lack of strong trend momentum. Traders should consider monitoring for price breaks above 1830 or below 1800 to determine the next move.