CONCOR - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 3.2

Here’s a technical deep dive into CONCOR’s chart and momentum signals

📉 Trend Overview

Current Price: ₹592 is below both 50 DMA (₹601) and 200 DMA (₹615)—signals a short-term bearish trend.

Price is approaching long-term support around ₹580–₹590.

Trend Status: Clear downtrend, potential reversal near major support levels.

📊 Momentum Indicators

RSI: 39.8

Near oversold zone, suggests weakening bearish momentum but no clear rebound yet.

MACD: -1.61

Negative crossover confirms downward pressure; needs a bullish cross + volume for recovery.

Volume: 5,30,142 vs avg 5,74,092

Lower volume shows waning interest among buyers, reinforcing sideways/downward move.

📈 Moving Averages

Indicator Level (₹) Signal

50 DMA 601 Price below it, bearish

200 DMA 615 Further below, adds downside bias

Unless price breaks above ₹615 with conviction, trend remains bearish.

📎 Bollinger Bands

Not specified, but inferred: price likely near the lower band → indicates oversold levels.

Band compression suggests volatility might expand soon—watch for breakout signals.

📌 Support and Resistance Zones

Zone Price Range (₹) Strategy

Support 580–590 Watch for reversal signal

Resistance 610–630 First major hurdle

Target 640–660 Post-breakout zone

Short-term trading idea: enter near ₹590 with stop-loss around ₹575, target exit near ₹640.

📉 Other Signals

FII/DII Hold Declines: Negative bias from institutions hints at lower sentiment.

Quarterly Profit Drop: -5.81% weakens earnings outlook—adds pressure.

High PEG Ratio (4.49): Suggests overvaluation relative to growth.

🧭 Conclusion

CONCOR is in a downtrend, with signs of early base formation near support. Momentum is weak, but oversold signals (RSI, Bollinger) and proximity to key levels could attract swing buyers soon. A breakout above ₹615 on volume would flip technicals bullish.

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