CCL Products (India) Limited (CCL) Stock - Complete Technical Analysis - Dec 18, 2024

CCL Products Stock Analysis: Support, Resistance, and Key Indicators Technical Breakdown

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. CCL Products (India) Limited is currently trading at 761, sitting about 11% below its 52-week high and 38% above its 52-week low, reflecting some volatility. On Dec 17, 2024, the stock opened at 766.60, dipped to 757.15, and closed at 761.10, signaling some downward movement. Over the last five days, the stock has seen a consistent decline from around 792 to 761, which suggests a short-term bearish trend.

The Average Directional Index (ADX) at 41.79 indicates a strong trend, while the Relative Strength Index (RSI) at 51.68 shows that the stock is neither overbought nor oversold. The Stochastic Oscillator is at a very low level, suggesting oversold conditions, which could signal a potential reversal. The MACD, however, remains positive at 17.98, indicating that there is still some bullish momentum, although the recent price action suggests caution.

Support is currently around 759, as indicated by multiple pivot levels and moving averages. If the stock fails to hold this support, it could face further declines towards lower levels. On the other hand, resistance levels are around 800-820, with pivot points suggesting that any upward momentum could encounter difficulty in breaking these levels.

For traders, CCL Products is currently in a critical phase, hovering near support, and the next few days will be decisive. A break below the support could lead to further declines, while holding above 759 might lead to a possible bounce towards resistance. Caution is advised, as the market sentiment remains mixed.