Maharashtra Scooters Limited (MAHSCOOTER) Stock - Complete Technical Analysis - Dec 03, 2024

MAHSCOOTER Technical Analysis Key Support & Resistance Levels Explained

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.

Maharashtra Scooters Limited is showing signs of bearish momentum, with its current price of 9,500.40 trading below all critical moving averages. ADX at 15.06 confirms a weak trend, while RSI at 39.9 and Stochastic %K at 9.5 suggest the stock is oversold.

Price Action and Volatility:

Recent price action indicates consolidation around the 9,400 level, with the ATR (Average True Range) reflecting high volatility at over 500 points. This highlights the potential for sharp price swings. The Awesome Oscillator at -1,021 reinforces the bearish momentum.

Support and Resistance Levels:

Immediate Support: 9,400 (Camarilla Pivot S1).

Major Support: 8,707 (Classic Pivot S1).

Immediate Resistance: 9,786 (Camarilla Pivot R2).

Major Resistance: 10,690 (Classic Pivot R1).

Chart Patterns:

Shooting Star Pattern suggests a bearish reversal, possibly targeting support near 9,400.

Morning Star Pattern offers a bullish counter-signal, which could result in a short-term rally.

Moving Averages:

The EMA-10 at 9,579 and SMA-10 at 9,464 are currently above the trading price, indicating bearish control.

The SMA-200 at 8,963 acts as a critical long-term support, aligning with the 52-week low support zone.

Final Insights:

MAHSCOOTER is in a pivotal zone, where breaching the 9,400 support could lead to a further decline towards 8,700. However, the oversold conditions may result in a short-term rebound towards 9,786 or higher. Traders should monitor volume and watch for a break above 10,000 for confirmation of a bullish reversal.