Usha Martin Limited (USHAMART) Stock - Complete Technical Analysis - Dec 17, 2024

Usha Martin Technical Analysis Key Support & Resistance Levels, Trends & Insights

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. Usha Martin Limited (USHAMART), currently priced at 385, is trading 14.63% below its 52-week high of 451. The stock has risen 41% from its 52-week low of 273, reflecting strong recovery. The recent price action shows a clear downtrend from the highs of 408.30 on December 12 to the current price. The stock is facing pressure as it trades below key moving averages like the 10-day EMA at 397.33 and 20-day EMA at 396.62. The RSI at 43.48 and MACD levels suggest weakening buying momentum, with the stock heading towards oversold territory. Momentum indicators and CCI both point to potential price consolidation or further downward movement.

On the volatility front, the ATR between 19 to 25 indicates moderate fluctuations, suggesting that price action may remain relatively stable with periodic volatility. For support, the stock has a strong level near 349.63, with resistance seen at 423.63. Watch for a breakout above this resistance for a possible rally. A drop below support at 349.63 could signal deeper losses. In conclusion, traders should be cautious, watching for price action around these key levels for further insight into the stock's future movement.