Kalyan Jewellers India Limited (KALYANKJIL) Stock - Complete Technical Analysis - Dec 13, 2024

Kalyan Jewellers Technical Analysis: Buy or Wait Key Levels & Insights Partha Kuchana Finance

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. Kalyan Jewellers India Limited (KALYANKJIL) is showing promising technical signs. The stock is trading at 747, nearing a critical resistance level of 763, just 4.98% below its 52-week high. This indicates a strong recovery, as the stock is up 140.19% from its 52-week low. Currently, the RSI is at a healthy 58.28, signaling a neutral position without an overbought condition, while the MACD is positive, suggesting upward momentum.

Key support is located at 737.40, with further support at the 700 level, which gives traders a potential buy opportunity if the stock holds above these levels. The bullish trend is supported by short-term moving averages, which are positioned above the price. However, caution should be exercised as the CCI is nearing overbought levels, suggesting the potential for a slight pullback.

Traders should keep an eye on price action near the support at 737.40 for buy signals, while a breakout above 763 could set the stock on a trajectory toward 786, its 52-week high. The strong volume and positive indicators suggest that the uptrend may continue if key levels hold, but volatility may increase as the stock nears overbought conditions.