Graphite India Limited (GRAPHITE) Stock - Complete Technical Analysis - Dec 17, 2024

"Graphite India Stock Analysis Support, Resistance & Trend Insights December 2024"

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. Graphite India Limited (GRAPHITE) stock has been experiencing a price range between its 52-week high of 709.4 and its low of 460.05, currently trading at 562.30. The recent price action shows fluctuations, with a slight downtrend observed recently as it moved from a high of 572.00 on December 16th to close at 562.30. The Relative Strength Index (RSI) at 57.54 is neutral, suggesting that the stock is in a balanced zone and could see further movement in either direction. The Average Directional Index (ADX) at 30.59 indicates moderate trend strength, while Stochastic %K of 61.73 points to a bullish phase, but it is approaching potential resistance.

The support levels for the stock lie near the 50-day SMA at 534.05 and the 100-day SMA at 535.10. The 200-day SMA at 541.99, along with the Ichimoku Base Line at 537.23, adds further support. On the resistance side, the price faces tough levels at the recent swing high of 572.00. Should the price break this level, the next resistance target could be around 600+. On the flip side, if the stock faces downward pressure, 540 could act as a key level to monitor.

The Average True Range (ATR) of around 230 indicates that the stock is volatile, with potential for sudden price movements. Traders should watch the key resistance at 572 and the support near 540 to guide their strategies. A break above resistance could lead to a rally, while a failure to hold support might lead to a consolidation phase or further downside.