fbpx
Skip links

Ducon Infra Technologies Technical Analysis: At Critical Support

📊 Market Overview

Current Price: ₹6.54 (+0.01, +0.15%)

Analysis Period: 6 Months

Trend: Bearish

  • The stock peaked near ₹12 in July-August 2024 and has since experienced a steady decline.
  • Key Levels:
    • Support: Around ₹6.50 (current area of consolidation); next support near ₹6.00.
    • Resistance: ₹7.50 and ₹9.00.
  • Lower highs and lower lows have characterized the recent price movement.
  • The current price rests near a critical support zone around ₹6.50.

🎯 Key Technical Analysis

💫 Price Action Dynamics

  • Notable Observations:
    • The stock witnessed a consistent decline post its August 2024 highs.
    • The price now consolidates near its ₹6.50 support zone.

📈 Technical Indicators Breakdown

  • Relative Strength Index (RSI):
    • Current RSI (14): 30.26 (just above the oversold threshold).
    • Downward RSI trend since August 2024 reflects ongoing bearish momentum.
    • RSI near oversold levels suggests potential interest from short-term buyers.
  • Directional Movement Index (DMI):
    • DI+: 13.49 (weak positive strength).
    • DI-: 22.77 (dominant negative strength confirms bearish momentum).
    • ADX: 17.31 (indicates a weak, non-convincing bearish trend).
    • Weak ADX reading suggests potential sideways or range-bound movement.

📊 Volume Analysis

  • Current Volume: 570.7K (low compared to historical spikes).
  • 6-Month Volume Pattern:
    • July-August 2024 saw significant volume spikes during the uptrend phase.
    • Since then, volumes have declined steadily, reflecting weak engagement in recent price movements.
  • A lack of strong buying/selling interest suggests indecision among traders.

💪 Technical Strength Assessment

Metric Score (/10)
Price Action Clarity 6
Technical Indicators 5
Volume Dynamics 4
Market Sentiment 5
Trend Strength 4
Overall Technical Score 4.8/10

⚠️ Risk Analysis

  • Breakdown below ₹6.50 may trigger further declines towards ₹6.00 or lower.
  • Weak ADX reading could result in prolonged sideways movements, reducing trading opportunities.
  • Lack of volume support could further disrupt any potential bullish breakout.
  • Current bearish sentiment may extinguish short-term recovery efforts without external triggers.

Disclaimer

This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research or consult with a professional before making investing or trading decisions.

  • Limitations of the analysis include a reliance on historical data and the exclusion of macroeconomic factors.
  • Market conditions may change rapidly, leading to outcomes that are not aligned with this analysis.
🍪 This website uses cookies to improve your web experience.