Eimco Elecon (India) Limited (EIMCOELECO) Stock - Complete Technical Analysis - Dec 11, 2024

Eimco Elecon Stock Analysis: Key Levels, Indicators, and Predictions

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.

Web-Optimized Technical Analysis for EIMCOELECO

Current Status:

EIMCOELECO stock trades at 2,524.25, reflecting strong recovery from its 52-week low but facing resistance below its 52-week high. Recent price actions suggest a consolidation phase with short-term volatility.

Key Insights:

Support Zones: 2,485 (recent low), 2,376 (200-day EMA).

Resistance Levels: 2,579, followed by 2,707 (Pivot R1).

Indicator Analysis:

RSI Neutral: The value of 48.86 highlights equilibrium in buying and selling pressure.

MACD Bearish: Bearish crossover, warning of limited upside unless momentum shifts.

ADX Weak Trend: ADX at 19.78 implies a lack of strong directional movement.

Moving Averages Perspective:

Current price lies between the 10-day EMA of 2,517 and 50-day EMA of 2,605, indicating resistance from medium-term averages.

The SMA-200 at 2,378 provides robust long-term support.

Observations on Volatility:

Average True Range (ATR) shows consistent volatility over the past month, with spikes correlating to intraday movements on December 6th and 9th.

Action Plan:

Bullish Outlook: A breakout above 2,579 could drive prices toward 2,707.

Bearish Risks: A fall below 2,485 might lead to 2,300 levels.

Use indicators like RSI and MACD to validate entry or exit strategies.