COROMANDEL - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.1

Here’s a detailed technical analysis of COROMANDEL

📊 Trend Overview

Current Trend: Consolidating with bearish undertone

Price is slightly below the 50 DMA (₹2,330) but above the 200 DMA (₹2,133), indicating short-term weakness within a broader uptrend.

RSI at 49.4 is neutral, showing indecision.

MACD at -32.5 is bearish, confirming a recent momentum slowdown.

📈 Technical Indicators

Moving Averages

Price (₹2,305) < 50 DMA (₹2,330) but > 200 DMA (₹2,133): Neutral-to-bullish medium-term structure

RSI (49.4)

Neutral zone. No strong momentum signal.

MACD (-32.5)

Negative crossover. Momentum is weakening.

Bollinger Bands

Price near middle band, suggesting consolidation and low volatility.

Volume Trends

Current volume (2.65L) < 1-week average (3.10L): Decreasing interest

Indicates lack of conviction from buyers.

🔍 Short-Term Momentum Signals

Neutral to Bearish Bias

MACD and price below 50 DMA suggest short-term weakness.

RSI near 50 shows indecision, not a reversal.

FII inflows (+3.67%) are a positive divergence from technical softness.

📌 Support & Resistance Zones

Level Price (₹) Commentary

Support 1 2,250 Recent swing low

Support 2 2,133 200 DMA, strong medium-term base

Resistance 1 2,330 50 DMA, short-term ceiling

Resistance 2 2,450 Previous consolidation zone

Resistance 3 2,600 Pre-breakdown zone

🎯 Entry & Exit Zones

Optimal Entry: ₹2,250–₹2,280 (on dips near support)

Exit Zone: ₹2,450–₹2,600 (partial profit booking)

Aggressive Target: ₹2,720+ if breakout above resistance sustains

🧭 Summary

Trend: Consolidating with mild bearish tone

Momentum: Weak, confirmed by MACD and volume

Outlook: Cautious near-term; favorable medium-term if support holds and volume improves

Valuation: Slightly premium P/E (33.2) vs industry (30.1), strong ROE/ROCE, low debt, and solid profit growth (+53.6%) support long-term strength

Let me know if you'd like a visual chart or a simulated trade setup based on this analysis.

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