V-Mart Retail Limited (VMART) Stock - Complete Technical Analysis - Sep 10, 2024

V-Mart Retail Stock Analysis Key Support & Resistance Levels September 2024

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. V-Mart Retail Limited is currently trading at 3,689, just 3.4% below its 52-week high of 3,820, which was reached on August 8, 2024. The stock has seen a significant 131.3% increase from its 52-week low of 1,595, recorded on October 30, 2023.

Technical indicators suggest a bullish trend for V-Mart Retail. The Average Directional Index (ADX) indicates a strong trend, while the Relative Strength Index (RSI) is comfortably above the neutral 50 level, suggesting the stock is in a strong bullish phase. The Stochastic %K is also in the positive zone, although the Stochastic RSI indicates that the stock may be nearing an overbought condition.

The MACD is positive, confirming the uptrend. The Awesome Oscillator supports this with its positive reading, and the Bull Bear Power also suggests that buying pressure is outweighing selling pressure. The Commodity Channel Index (CCI) and Williams Percent Range are both in bullish territory, indicating strong momentum and less selling pressure.

The stock is trading above its key moving averages, including the 10-day and 20-day Exponential and Simple Moving Averages, which signals strong support levels. The Ichimoku Base Line is also below the current price, providing additional support. The Hull Moving Average and Volume Weighted Moving Average are also below the current price, reinforcing the support level.

Resistance levels are likely around the recent high of 3,820, with potential further resistance as the stock approaches previous highs. Support is expected near the Ichimoku Base Line level and the recent pivot levels around 3,636.

In summary, V-Mart Retail Limited is showing strong bullish signals with key indicators in favor of continued upward momentum. Traders should watch for potential resistance around 3,820 and consider support levels if the stock faces a pullback.