Ramky Infrastructure Limited (RAMKY) Stock - Complete Technical Analysis - Sep 11, 2024

Ramky Infrastructure Stock Analysis: Key Support & Resistance Levels Unveiled

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.

In today's technical analysis of Ramky Infrastructure Limited (RAMKY), let's delve into its chart patterns and key indicators. Currently, the stock is trading at 687, which is notably 31.94% below its 52-week high of 1009 and 60.94% above its 52-week low of 427.

Starting with the Moving Averages, the stock is trading below most of the significant Moving Averages (MA), such as the 10-day, 20-day, and 30-day MAs, suggesting a bearish trend in the short to medium term. The 50-day MA is also above the current price, indicating potential resistance at higher levels. The 100-day and 200-day MAs, which are more reflective of long-term trends, are even lower, suggesting a potential support zone around these levels.

The Average Directional Index (ADX) is at a low level, suggesting a weak trend strength, while the Relative Strength Index (RSI) is near neutral, indicating that the stock is neither overbought nor oversold at this point. The Stochastic Oscillator and Stochastic RSI both show extremely low values, reflecting strong bearish momentum in the stock.

The MACD, though positive, is in a declining phase, signaling that bearish momentum may continue if it crosses below the signal line. The Commodity Channel Index (CCI) and Williams Percent Range (WPR) are in the oversold region, suggesting that the stock might be undervalued, potentially leading to a reversal if buying interest increases.

Support levels are identified near the current price of 687 and further at around 675, which aligns with Camarilla and Fibonacci support levels. Resistance levels are higher, around 700 to 710, with additional resistance near the 50-day MA at approximately 679.

Overall, the stock shows a mixed picture with bearish indicators in the short term and potential support zones indicating possible buying opportunities if it shows signs of a reversal. Traders should monitor key resistance levels and be cautious of the current bearish trend.