Someone Requested Som Distilleries & Breweries Ltd Analysis
Based on the technical chart of Som Distilleries & Breweries Ltd (NSE), here is my analysis and prediction:
1. Current Trend: The stock appears to be in a consolidation phase after a recent decline. The price is currently testing the resistance provided by the 50-day moving average.
2. Support and Resistance Levels:
- Support: The immediate support level is around INR 105.
- Resistance: The stock is facing resistance around INR 112.97, which is the 50-day moving average.
3. Volume: The volume has shown some spikes during the recent price movements, indicating periods of increased trading activity. However, the overall volume trend appears to be stable.
4. Moving Averages: The stock price is below the 200-day moving average, suggesting a bearish long-term trend. The price is currently testing the 50-day moving average, which could act as a short-term resistance.
Prediction:
If the stock price can break above the 50-day moving average with increased volume, it may continue to rise towards the next resistance level around INR 116.29. However, if it fails to break this resistance, it could retrace back to the support level at INR 105.
Disclaimer:
I am not a financial advisor, and this information should not be taken as financial advice. Always conduct your own research and consider consulting with a certified financial advisor before making any investment decisions.
Would you like further analysis on this stock or any other financial instruments?
1. Current Trend: The stock appears to be in a consolidation phase after a recent decline. The price is currently testing the resistance provided by the 50-day moving average.
2. Support and Resistance Levels:
- Support: The immediate support level is around INR 105.
- Resistance: The stock is facing resistance around INR 112.97, which is the 50-day moving average.
3. Volume: The volume has shown some spikes during the recent price movements, indicating periods of increased trading activity. However, the overall volume trend appears to be stable.
4. Moving Averages: The stock price is below the 200-day moving average, suggesting a bearish long-term trend. The price is currently testing the 50-day moving average, which could act as a short-term resistance.
Prediction:
If the stock price can break above the 50-day moving average with increased volume, it may continue to rise towards the next resistance level around INR 116.29. However, if it fails to break this resistance, it could retrace back to the support level at INR 105.
Disclaimer:
I am not a financial advisor, and this information should not be taken as financial advice. Always conduct your own research and consider consulting with a certified financial advisor before making any investment decisions.
Would you like further analysis on this stock or any other financial instruments?
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