Vakrangee Limited (VAKRANGEE) Stock - Complete Technical Analysis - Dec 09, 2024

Vakrangee Limited Stock Analysis Bullish Reversal & Price Targets Technical Insights

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. Vakrangee Limited (VAKRANGEE) has recently demonstrated a bullish trend, closing at 26.49 after fluctuating between 25.50 and 26.75. This price action has been supported by a Bullish Engulfing pattern and a Morning Star pattern, which are both classic indicators of a bullish reversal. The stock's RSI is in the neutral zone around 57, indicating that there is room for further upside without being overbought. Additionally, the Awesome Oscillator and Momentum indicators are both signaling a bullish phase, confirming the positive outlook.

With the Average Directional Index (ADX) at 23.13, the current trend appears to have moderate strength, signaling a steady upward movement. The Exponential Moving Averages (EMA) for the 10, 20, and 30-periods are all showing stability near the 25 mark, providing short-term support. The stock is currently trading just above these averages, indicating that it is holding its ground. The longer-term moving averages (50-period SMA and 100-period SMA) above the 200-period EMA further reinforce a positive longer-term outlook.

The key support level to watch is 25.50, as it aligns with recent lows. On the other hand, resistance is seen around 27.25, and a break above this level could pave the way for further upside. The 52-week high is 37.69, and the 52-week low is 18.4, with the stock currently trading closer to the lower half of this range. Given this, it is important for traders to closely monitor the stock for any breakouts above resistance levels. The Average True Range (ATR) indicates moderate volatility, suggesting that traders can expect some price fluctuations. Overall, VAKRANGEE looks poised for further upside, but careful attention should be paid to these key levels to confirm a strong bullish move.