Bombay Dyeing & Mfg Company Limited (BOMDYEING) Stock - Complete Technical Analysis - Sep 11, 2024

Bombay Dyeing Technical Analysis: Key Support & Resistance Levels NSE Stock 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. Let's analyze Bombay Dyeing & Mfg Company Limited, currently trading at 210. The stock is 13.47% below its 52-week high of 243.2 and 65.90% above its 52-week low of 126.85.

The technical indicators suggest a bearish outlook. The RSI and Stochastic indicators are in the lower range, indicating that the stock might be in an oversold condition. The MACD is negative, further suggesting a bearish trend. The Awesome Oscillator and Williams Percent Range also reflect weak buying pressure.

The ADX indicates a weak trend strength, suggesting that the stock might be experiencing a sideways movement rather than a strong trend. The current price is hovering around the major moving averages, including the EMA and SMA. These levels may act as resistance or support depending on the stock's direction.

The Average True Range (ATR) shows moderate volatility, which traders should consider when planning their trades. The stock's recent price action has been trading within a narrow range, suggesting potential consolidation.

In summary, Bombay Dyeing & Mfg Company Limited shows bearish technical indicators with potential resistance levels at the current moving averages. Traders should watch for potential breakouts or further consolidation and adjust their strategies accordingly.