Ndr Auto Components Limited (NDRAUTO) Stock - Complete Technical Analysis - Dec 10, 2024

Ndr Auto Components Limited (NDRAUTO) Technical Analysis Key Support & Resistance Levels Trading

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.

Ndr Auto Components Limited (NDRAUTO) - In-Depth Technical Analysis

Ndr Auto Components Limited has been on a solid uptrend, currently priced at 780.45, which is 122.62% above its 52-week low of 350.58. The stock's recent momentum has pushed it near its resistance zone, where the price has tested highs of 781.60.

Key Observations:

The stock has been showing consistent higher lows over the past few days, with the price steadily moving upward from the 710-730 range to the current levels.

On Dec 10, 2024, the stock exhibited bullish behavior with a high of 781.60 and a close at 780.45, hinting that the price is still under upward pressure.

Momentum Indicators:

RSI at 62.14: The stock is moving toward overbought conditions, suggesting a pause or minor pullback is possible before any continuation.

Stochastic %K at 82.93 and the Stochastic RSI fast at 89.67 further signal that the stock might face some resistance or a potential reversal in the near future due to overbought territory.

The MACD continues to stay negative, indicating that the stock may face short-term corrections before any possible continuation.

Volatility & Risk:

With an ATR reading showing high volatility, especially as the stock approaches key resistance levels, risk management will be crucial for traders looking to enter long positions.

Support Levels:

Strong support is found near 711.60, with further support levels at the 20-day simple moving average of 692.94 and Classic Pivot S1 at 631.10.

Resistance Levels:

Immediate resistance at 822.05 (Classic Pivot R1) and a strong zone near 915.00 (R2), where the price may face a tough battle to break.

Conclusion: While the stock shows strong bullish momentum, the overbought conditions suggest a possible consolidation or pullback. Traders should monitor price action closely and be ready to buy at key support levels. If the price breaks resistance at 822.05, there is significant potential for further upward movement towards the 52-week high of 1039.95.