CEAT Limited (CEATLTD) Stock - Complete Technical Analysis - Dec 02, 2024

CEAT Limited Stock Analysis - Bullish Momentum or Correction Ahead Technical 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. CEAT Limited (CEATLTD) is currently trading at 3,107, showing signs of recovery after a brief pullback. The stock is 4.77% below its 52-week high, which suggests that it may face resistance around the 3,150-3,200 range. A strong support level is visible near 3,050, where the stock has shown signs of bouncing back. Technical indicators such as RSI indicate a slightly overbought condition, suggesting the possibility of a price correction in the near term, but the MACD and Awesome Oscillator continue to support the overall bullish trend.

Traders should focus on the next potential breakout or breakdown. If CEAT manages to break above 3,150, it could see a push towards higher levels, whereas a dip below 3,050 would suggest further downside risk. Volatility is also a key factor here, as the Average True Range (ATR) suggests increasing price fluctuations. The trend seems to be in a moderate bullish phase, with an ADX reading of 25 showing that momentum is present but not extreme.