USHAMART - Technical Analysis with Chart Patterns & Indicators

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

Technical Rating: 4.5

Here’s a detailed technical analysis of Usha Martin Ltd (USHAMART)

📊 Trend Overview

Current Trend: The stock is in a strong uptrend, trading close to its 52-week high of ₹451.

Price Action: Currently at ₹416, well above both the 50-DMA (₹374) and 200-DMA (₹352), confirming bullish momentum and trend strength.

📈 Momentum Indicators

RSI (70.6): In overbought territory. Indicates strong momentum but also suggests caution for short-term traders due to potential pullback.

MACD (9.22): Strongly positive, confirming bullish crossover and continued upward momentum.

Volume: Current volume (33.82 lakh) is significantly above the 1-week average (20.83 lakh), showing strong buying interest and conviction.

📉 Moving Averages

Indicator Value (₹) Signal

50-DMA 374 Strong Support

200-DMA 352 Strong Support

Current Price 416 Above both DMAs

📌 Bollinger Bands

Price is near the upper band, suggesting strong momentum but also potential short-term resistance.

A breakout above ₹420–₹425 could trigger a rally toward ₹440–₹450.

🧭 Support & Resistance Zones

Immediate Support: ₹400–₹405 zone

Major Support: ₹374 (50-DMA), then ₹352 (200-DMA)

Immediate Resistance: ₹420–₹425 zone

Major Resistance: ₹440–₹451 (52-week high)

🎯 Entry & Exit Zones

Optimal Entry: ₹400–₹405 (on pullback with MACD support)

Exit Zone: ₹440–₹451 (resistance zone), ₹460+ if momentum sustains

🔍 Conclusion

USHAMART is trending upward with strong RSI and MACD signals. Price action above key moving averages and high volume confirms bullish sentiment. While the RSI suggests caution for short-term entries, the overall setup favors continuation. A breakout above ₹425 with volume could confirm further upside, while a pullback to ₹400–₹405 offers a favorable entry.

Let me know if you’d like a comparison with other steel or wire rope manufacturers like Tata Steel or Bharat Wire Ropes!

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