Gravita India Limited (GRAVITA) Stock - Complete Technical Analysis - Dec 03, 2024

Gravita India Stock Analysis - Technical Insights, Support & Resistance Levels for 2024 GRAVITA N

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. Gravita India Limited (GRAVITA) stock, trading at 2,147.55, has witnessed a significant uptrend from its 52-week low of 730, showcasing a remarkable increase of 194.18%. However, it is currently 20.46% below its 52-week high of 2,700, indicating a period of consolidation or a potential pullback.

The stock is currently facing resistance at the 2,200 level, while support is found around 2,136 and 2,100. Price movement within these levels should be monitored for any potential breakout or breakdown. The stock is slightly below its short-term moving averages, suggesting some short-term bearish pressure, but the long-term trend remains bullish with key moving averages such as the 50-day and 100-day SMA above the current price.

The RSI is hovering around the neutral zone at 47.62, suggesting a lack of overbought or oversold conditions. The ADX value of 12.61 indicates a weak trend, and the Stochastic RSI reading of 75.41 suggests the stock could be approaching overbought territory, signaling a possible reversal. Additionally, recent candlestick patterns, such as a Doji and Spinning Top, indicate indecision in the market, further hinting at the possibility of consolidation or a trend reversal in the near future.

The ATR values, ranging from 37 to 64, suggest moderate volatility, meaning traders should be cautious of sudden price movements. Investors should monitor for price movements near the key support and resistance levels and watch the momentum indicators for clues on whether the stock will continue its upward momentum or reverse in the short term.