Shares of Dwarikesh Sugar Industries Limited (DWARKESH.BO) are moving on volatility today 3.17% or 2.15 from the open. The BSE listed company saw a recent bid of 69.95 and 184637 shares have traded hands in the session.
Many investors rely on technical analysis when making market decisions. Technical analysis enables investors to examine previous market activity to try and predict future stock price movement. Stock prices often move in trends that can be observed. A trend may remain in place until a specific technical line is breached. Many traders will develop strategies based on defined trends. Some investors will develop opposite strategies that tend to go against the trend. Many technical chart watchers are interested in finding patterns that may repeat in the future. Repetitive price movements have been studied for a long time. Investors may choose to develop highly complex systems for trading equities, while others may choose to follow simple trend lines to identify entry and exit points. Mastering the art of technical analysis may take a long time. Developing technical skills may be a very useful tool for the investor to add to the kit.
Taking a deeper look into the technical levels of Dwarikesh Sugar Industries Limited (DWARKESH.BO), we can see that the Williams Percent Range or 14 day Williams %R currently sits at -98.65. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.
Dwarikesh Sugar Industries Limited (DWARKESH.BO) currently has a 14-day Commodity Channel Index (CCI) of -154.54. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.
The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, Dwarikesh Sugar Industries Limited’s 14-day RSI is currently at 25.25, the 7-day stands at 18.43, and the 3-day is sitting at 8.10.
Currently, the 14-day ADX for Dwarikesh Sugar Industries Limited (DWARKESH.BO) is sitting at 45.00. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.
As we sail into the second half of the calendar year, investors may be looking to see what has gone right and what has gone wrong so far this year. Making necessary changes to some holdings may help position investors for the next couple of quarters. Being able to cut the riskier losers and take some profits from winners may help solidify the stock portfolio. As we run through the next round of company earnings reports, investors will be keeping a close eye on the data that is reported. Investors may be looking to buy companies that continue to post beats on the earnings front, and cut ties with ones that are not hitting their marks.