Technical Momentum Shifts Amid Specialty Chemicals Sector Trends
Technical Momentum and Moving Averages
The current price of Amal stands at ₹642.00, marking a modest change from the previous close of ₹636.30. The stock’s daily trading range today has been between ₹635.55 and ₹646.00, indicating relatively contained intraday volatility. However, the broader technical trend has shifted from mildly bearish to bearish, signalling a more cautious market stance.
Moving averages on the daily chart reinforce this sentiment, with the stock positioned below key averages, suggesting downward pressure in the short term. This bearish alignment of moving averages often reflects a consolidation phase or potential correction, especially when corroborated by other technical tools.
MACD and RSI Signals
The…
