Mangalam Cement Limited (MANGLMCEM) Stock - Complete Technical Analysis - Dec 06, 2024

Mangalam Cement Stock Analysis: Key Support & Resistance Levels You Need to Know

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. Mangalam Cement Limited (MANGLMCEM) is currently priced at 912.90, significantly lower than its 52-week high of 1093.7, indicating the stock has room to move upwards but faces resistance in the short term. The stock shows a mix of bullish indicators, with a solid base at the 50-day and 100-day moving averages, both hovering around 869, suggesting support levels are holding firm.

The Relative Strength Index (RSI) of 60.9 positions the stock in neutral territory, implying that it isn't overbought or oversold. The Average Directional Index (ADX) at 26.36 suggests the stock is in a moderate uptrend, but its momentum may not be as strong as a high-ADX stock. The MACD level at 22.18 is positive, confirming upward momentum, while the Stochastic RSI and Stochastic %K are nearing overbought territory, pointing to a potential price pullback.

The Awesome Oscillator further supports the bullish case, but caution is advised due to high volatility, as indicated by the ATR values fluctuating between 100 and 130. This indicates the possibility of large price swings in both directions.

The stock appears to be in a bullish phase, supported by strong moving averages and positive momentum, but any break above 950-960 could push it higher. Alternatively, if the price dips below the 860-875 region, traders should watch for potential support to hold. With a moderate uptrend and some caution signs in the indicators, this is a stock to keep an eye on for breakout opportunities or a potential pullback if the overbought signals become stronger.