Chalet Hotels Limited (CHALET) Stock - Complete Technical Analysis - Nov 29, 2024

Chalet Hotels Limited (CHALET) Technical Analysis Key Levels & Indicators Explained NSE Stock An

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. Chalet Hotels Limited (CHALET) is currently trading around 890.10, 7.09% below its 52-week high of 958, but still up 58.65% from its 52-week low of 561.05. The stock has displayed some indecisive price action with candlestick patterns like Doji, Spinning Top, and Bearish Harami signaling potential market uncertainty.

Looking at the technical aspects, support levels are identified near the 860-870 range, aligning with recent lows and moving averages. A breakdown below these levels could indicate further downside, targeting the 800-820 range. On the upside, resistance is near 900-915, with the Hull moving average and key Fibonacci retracements acting as key barriers. If the stock breaches these levels, a move toward 950-960 could be on the horizon, approaching its 52-week high.

Indicators such as RSI at 56.18 suggest neutrality, while the Stochastic RSI of 83.31 signals possible overbought conditions. Meanwhile, the ADX at 24.37 indicates a trend but remains in a neutral range. The CCI at 88.77 further confirms potential overbought conditions, signaling caution.

Traders should be alert to price movements around these key levels. Watch for confirmation of either a breakout above 915 or a breakdown below 860 for a clearer directional signal in the short term.