Welspun Living Limited (WELSPUNLIV) Stock - Complete Technical Analysis - Nov 29, 2024

Welspun Living Ltd Technical Analysis - Key Support & Resistance Levels Stock Insights

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. Welspun Living Limited (WELSPUNLIV) is currently trading at 152.50, showing some indecision in the market, as indicated by the spinning top and doji patterns. With the stock trading 28% below its 52-week high and 24% above the 52-week low, the stock is oscillating between potential support and resistance zones. Technical indicators like the MACD are in negative territory, suggesting bearish momentum, but the RSI remains neutral, providing no immediate overbought or oversold signals.

The Average Directional Index (ADX) suggests moderate trend strength, indicating a period of consolidation. Key support lies between 146 and 149, while resistance is around the 155-158 zone. Traders should monitor price action near 152 for any signs of a breakout or reversal. If 158 is breached, it could lead to a bullish momentum shift, while failure to surpass this level may see the stock retreat towards support.

In summary, WELSPUNLIV is in a consolidation phase with conflicting signals from different indicators. The stock could experience volatility, but a clear trend direction will depend on how it reacts to support and resistance levels. Keep a close eye on price movements around 150-152 for an actionable trading opportunity.