CE Info Systems (MapmyIndia) Stock Price Targets for 10-12-2024: A Technical Review

The technical analysis for CE Info Systems (commonly known as MapmyIndia), a company that provides digital mapping, location-based services, and geographic information systems (GIS).

Here’s a breakdown of the key technical analysis details provided for the stock:

Stock Price Details:

• High: 1,945.80 — This is the highest price at which the stock traded during the session.
• Low: 1,637.20 — This is the lowest price at which the stock traded during the session.
• Close: 1,911.00 — This is the price at which the stock closed at the end of the trading session.

Pivot Points:

Pivot points are technical indicators used to determine potential support and resistance levels for the stock.

• Pivot Point: 1,831.33 — The pivot point is a key level that traders often use as a reference point for determining support and resistance. The stock’s price above or below this level could signal a bullish or bearish trend.

Support Levels (S1, S2, S3):

Support levels are points where the price tends to stop falling and may reverse direction. These are seen as price levels that are below the current price.

• S1 (1,716.87): The first support level, which is considered a level where the stock could find some buying interest if it starts to decline.
• S2 (1,522.73): The second support level, which is a more significant level of support, typically where the stock may face increased buying activity.
• S3 (1,408.27): The third support level, which represents a deeper support zone where the stock could face a stronger level of buying.

Resistance Levels (R1, R2, R3):

Resistance levels are points where the stock faces selling pressure and tends to stop rising. These are seen as price levels above the current price.

• R1 (2,025.47): The first resistance level, where selling may occur if the stock rises further.
• R2 (2,139.93): The second resistance level, a stronger point where the stock could face resistance.
• R3 (2,334.07): The third resistance level, a more significant resistance zone.

Support and Resistance Target Points:

The targets here show the possible expected movement based on the support and resistance levels:

• Support Level Target 1: 114.47
• Support Level Target 2: 194.13
• Support Level Target 3: 114.47
• Resistance Level Target 1: 194.13
• Resistance Level Target 2: 114.47
• Resistance Level Target 3: 194.13

These targets may suggest the potential price movement range for the stock over the short term. The numbers seem to suggest a focus on price movement between support and resistance levels, with targets possibly showing expected changes in volatility or price action.

Interpretation:

• Current Price Action: With the stock closing at 1,911.00, it is near the pivot point (1,831.33), which may suggest the stock is in a neutral zone. Traders might expect the stock to rise if it breaks above the resistance levels or decline if it falls below support.
• Short-Term Outlook: The stock may experience volatility between the support and resistance levels mentioned. A breakout above R1 (2,025.47) would signal a potential bullish trend, while a drop below S1 (1,716.87) could indicate a bearish trend.

By using this information, traders can make informed decisions about where to place their buy or sell orders based on the expected market movement.