Finolex Cables Limited (FINCABLES) Stock - Complete Technical Analysis - Nov 29, 2024

Finolex Cables (FINCABLES) Stock Analysis: Key Support, Resistance & Price Trends Technical Break

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. Finolex Cables Limited (FINCABLES) is exhibiting signs of consolidation as it hovers around 1,149.85, with support near 1,130 and resistance near 1,175. The stock has recently formed a spinning top candlestick, signaling market indecision. This pattern, along with the RSI at 41.6 and ADX at 38.64, indicates a neutral to strong trend, but with potential short-term reversals or sideways movement. A break above 1,175 could target 1,200, while a dip below 1,130 could test lower support levels.

The stock is trading 32.36% below its 52-week high, suggesting potential upside if the resistance level at 1,175 is surpassed. The current ATR suggests volatility, so traders need to monitor the price action closely. With multiple moving averages trending lower, the price may face resistance in the near term. Key levels to focus on include the 10-day EMA at 1,142.26 for support and the 200-day EMA at 1,261.44 as a long-term resistance.