Parag Milk Foods Limited (PARAGMILK) Stock - Complete Technical Analysis - Sep 12, 2024

Parag Milk Foods Stock Analysis Key Support & Resistance Levels September 2024 Update

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Parag Milk Foods Limited, trading at 186, is currently experiencing a bearish trend. The ADX suggests a weak trend, indicating a lack of strong directional movement. The RSI is showing a potential oversold condition, which may signal a reversal or a temporary bottom. However, the Stochastic Oscillator and Stochastic RSI indicate that the stock is in an oversold territory, which might suggest that further downside could be limited.

The MACD is negative, reflecting a bearish momentum, and the Momentum Indicator also supports this bearish outlook. The Commodity Channel Index is deeply negative, suggesting that the stock may be undervalued. Additionally, the Awesome Oscillator and Williams Percent Range confirm the bearish sentiment.

Current support levels are around 180 to 186, which align with various moving averages and pivot points. Resistance is seen near 192, which is consistent with recent highs and technical levels. Given that the stock is trading well below its 52-week high but above its 52-week low, it appears to be in a consolidation phase, with potential for volatility near these key levels.