ICRA Limited (ICRA) Stock - Complete Technical Analysis - Dec 04, 2024

ICRA Limited Stock Analysis: Key Support, Resistance & Momentum Insights ICRA Technical Review

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. ICRA Limited (ICRA) stock is trading at 6653.50, which is 14% below its 52-week high of 7735.4, and 33% above its 52-week low of 4983.4. The price action over the last few days has shown fluctuations, signaling some potential volatility in the near term. On December 4th, the stock moved between 6591.95 and 6726.30, closing at 6653.50, suggesting moderate upward movement. However, with an RSI near 48, the stock is in a neutral zone, meaning there is no immediate overbought or oversold condition.

The stock's MACD indicator shows a bearish divergence with a negative reading of -63.61, which indicates that momentum may not be strong enough to push the stock further higher in the short term. Additionally, the Stochastic RSI, with a value of 77.92, indicates that the stock is entering overbought territory, suggesting a potential pullback or consolidation in the near term.

From a support perspective, the 200-day and 100-day EMAs are critical, with the current price trading well above them. Should the stock retrace, the support around 6500 can act as a crucial level. If the price falls below 6500, there is additional support around the 6000 mark, driven by Fibonacci retracement levels and historical price behavior.

The resistance zone lies between 6730 and 6800, where the stock has faced some selling pressure in the past. A sustained break above these levels could pave the way for a potential rally toward the 7000 mark. Overall, the stock is experiencing moderate volatility, with the ADX at 24.59 indicating weak trend strength. This means traders should stay alert to price swings and look for clear trend confirmation before entering trades.