Fertilizers and Chemicals Travancore Limited (FACT) Stock - Complete Technical Analysis - Dec 13, 2024

Fertilizers and Chemicals Travancore Limited (FACT) Technical Analysis Support & Resistance Level

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.

Fertilizers and Chemicals Travancore Limited (FACT) has shown intriguing technical signals recently, with a price hovering around 992. The stock has demonstrated resilience, currently trading 16.39% below its 52-week high of 1,187 and 73.31% above its 52-week low of 573. This creates a range where FACT might experience strong resistance near its highs, while its recent gains reflect underlying bullish momentum. The Relative Strength Index (RSI) reading of 59.52 points to a balanced market sentiment, while the Average Directional Index (ADX) at 31.29 reveals a moderately strong trend, suggesting that FACT could continue moving in the same direction without a major reversal at this point.

Looking at recent price action, FACT's fluctuations between 972-1,069 over the past few days show a range-bound movement. This range could signal consolidation, and traders may want to watch for a breakout either above 1,010 or below 950 for further trend confirmation. The presence of key moving averageslike the EMA 10 at 991.85 and SMA 200 at 857.06indicates that the stock is likely to find support around 950-960 levels, while resistance lies closer to 1,020.

Indicators such as the Stochastic RSI at 62.98 and the Commodity Channel Index (CCI) at 46.53 suggest upward momentum but do not yet indicate a strong bullish phase. The stocks price is currently near its volume-weighted moving average (VWMA) of 995, which suggests that trading volume has been significant, and this level could serve as a key pivot point.

With FACT's price currently showing solid support near 950-960, traders may consider entering positions near these levels, while setting an eye on resistance at 1,020. The price action over the next few days will likely define the trendeither a continuation upward or a possible retreat to lower levels.