Amrutanjan Health Care Limited (AMRUTANJAN) Stock - Complete Technical Analysis - Sep 13, 2024

Amrutanjan Health Care Stock Analysis Key Support, Resistance & Market Trends

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.

Amrutanjan Health Care Limited (AMRUTANJAN) is currently trading at 787.35, which is slightly below the critical psychological mark of 800. The stock is showing indecision as indicated by the spinning top candlestick pattern formed today. This suggests that the bulls and bears are at a stalemate, making the next move crucial. The ADX at moderate levels indicates that the trend strength is not very strong at the moment. RSI is near the mid-point, reflecting a neutral momentum with neither overbought nor oversold conditions, while the MACD is currently in the positive zone, signaling potential bullish momentum if the stock continues to rise.

The stock is currently trading 8.72% below its 52-week high of 862.6, and it has shown strong resilience from its 52-week low of 563.9, which it made nearly a year ago. This upward momentum is supported by the Awesome Oscillator being in the green, signaling bullish pressure. However, the stochastic indicators show weakness, suggesting that short-term traders might be cautious. The Williams Percent Range is deeply oversold, which could potentially signal a short-term reversal to the upside if buyers step in.

Key moving averages such as the 200-day EMA and SMA show the stock in an upward trend, with the price well above these long-term averages, indicating long-term strength. However, short-term averages like the 10 and 20-day EMAs are sitting close to the current price, suggesting that the stock is in a consolidation phase. This makes it critical to watch the upcoming price action for breakouts from current levels.

In terms of support and resistance, the 774 to 771 levels act as immediate support, while resistance is seen at 800 and beyond at 862, the recent high. A breach above 800 could push the stock toward its 52-week high, but a failure to hold current levels could result in a pullback towards the support zone.

In conclusion, traders should closely monitor momentum indicators and key levels, as the stock is in a critical range that could determine its short to medium-term direction. With moderate trend strength and neutral momentum, it's important to remain cautious until clear signs of a trend emerge.