SMS Pharmaceuticals Limited (SMSPHARMA) Stock - Complete Technical Analysis - Sep 13, 2024

SMS Pharmaceuticals Stock Analysis: Bullish Trends & Key Levels to Watch NSE Stock 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.

Technical Analysis for SMS Pharmaceuticals Limited (SMSPHARMA):

As of the latest data, SMS Pharmaceuticals is trading at 370.60, which is approximately 5.37% below its 52-week high of 391.65 and 231.34% above its 52-week low of 111.85.

Support and Resistance Levels:

Immediate Support: The stock finds support around the classic pivot level of 324.62, with additional support from Camarilla S1 at 330.28 and the Fibonacci S1 at 289.32.

Immediate Resistance: Resistance is observed around the classic pivot R1 at 377.88, with further resistance from Camarilla R1 at 347.22 and the Fibonacci R1 at 359.91.

Chart Patterns:

The recent chart pattern indicates a Doji candle formation, reflecting market indecision. This is supported by a Spinning Top pattern which confirms the uncertainty among traders.

Additionally, a Bullish Harami pattern has been observed, suggesting potential bullish momentum if confirmed by subsequent price action.

Technical Indicators:

MACD: Currently showing a bullish signal.

RSI: Indicates the stock is in the overbought region, suggesting caution.

ADX: Indicates a strong trend, with a high value suggesting a strong directional move.

Stochastic Oscillator: The current value indicates the stock is in the overbought zone.

Moving Averages: Short-term averages (10-day EMA and SMA) are above the long-term averages (50-day EMA and SMA), signaling a positive trend.

ATR: Shows increased volatility, indicating larger price swings.

Ichimoku Base Line: Supports the notion of a bullish trend.

Other Observations:

The stock's volatility is highlighted by the ATR, suggesting traders should be prepared for potential price swings.

The Bull Bear Power is positive, reinforcing the bullish trend.

Given these observations, SMS Pharmaceuticals is experiencing strong bullish trends but is currently in an overbought condition. Traders should watch for possible corrections or consolidations at key support and resistance levels.