Rico Auto Stock Analysis by Yagnesh Patel
Yagnesh Patel 
Rico Auto detail stock analysis with support & resistance levels
Rico Auto Ltd.
- The stock recorded a significant high of ₹156 in April 2024. It touched a low of ₹80 in December 2024, marking a sharp decline of approximately 48% from its peak. Over the past two months, the stock has entered a consolidation phase following a highly volatile performance throughout 2024.
- The stock is forming a reversal pattern on the weekly chart. Momentum indicators are exhibiting a positive divergence, suggesting a potential shift in trend and a strengthening of bullish sentiment.
- The stock witnessed a 19% surge in a single day, accompanied by a significant spike in volumes. Volume levels on this day were substantially higher compared to the 10-day average, signaling heightened market interest and institutional participation.
- The stock has successfully broken above its 20-day (SMA) and is currently retesting this level. Additionally, it has managed to close above its 50-day SMA, indicating potential for further upside movement.
- On the daily chart, the RSI is finding support at the 40 level, which aligns with the 20-day SMA. This confluence of support levels indicates a strong reversal signal, bolstering the case for a bullish outlook.
Conclusion: We are expecting stock price may go up side from here cmp – 91.20 levels
Important Resistance: 96.40 – 101.55 – 113.60
Important Support: 89 – 77.50 – 65.50
Analyst: Yagnesh Patel
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SEBI Registered Research Analyst
Registration Number: INH000016320
Email: support@yagneshpatel.in or justmoneycare@gmail.com
Disclaimer-
I’m SEBI Registered RA. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Analyst Certification: The Analyst certify (ies) that the views expressed herein accurately reflect his (their) personal view(s) about the subject security (ies) and issuer(s) and that no part of his (their) compensation was, is or will be directly or indirectly related to the specific recommendation(s) or views contained in this research report.
SEBI registered RA number INH000016320.
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