Krsnaa Diagnostics Limited (KRSNAA) Stock - Complete Technical Analysis - Aug 30, 2024

Krsnaa Diagnostics Technical Analysis: Key Support

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.

Let's dive into the technical analysis for Krsnaa Diagnostics Limited (KRSNAA) with the current stock price at 722.

Support and Resistance Levels:

Support Levels: The key support levels are identified at 620.48, 562.07, and 460.92. These are crucial points where the stock might find buying interest if it faces downward pressure.

Resistance Levels: The significant resistance levels are at 721.63, 764.37, and 865.52. These levels could act as barriers to upward movement, where selling pressure might emerge.

Technical Indicators:

MACD: The MACD is in a positive zone, suggesting bullish momentum, though the level is not at its peak.

RSI: The RSI is comfortably positioned at 58.78, indicating a neutral to slightly bullish trend without showing overbought conditions.

ADX: The ADX at 20.8 suggests a weak trend strength, implying that the current price action may be choppy or indecisive.

Stochastic Oscillator: The Stochastic %K is at 69.47, showing that the stock is in the overbought territory but still not excessively so.

Williams %R: The Williams %R is at -27.55, also indicating overbought conditions.

CCI: The Commodity Channel Index (CCI) is at 70.34, reinforcing the overbought scenario.

Awesome Oscillator: The Awesome Oscillator at 44.2 suggests positive momentum, though not exceptionally strong.

Bull Bear Power: At 30.26, this indicates that the bullish power is currently dominant.

Ultimate Oscillator: The Ultimate Oscillator is at 39.99, signaling potential weakness in the bullish trend.

Moving Averages:

Short-Term Averages: The stock is trading above its 10-day Simple Moving Average (SMA) of 720.9 and its 10-day Exponential Moving Average (EMA) of 715.14, indicating a bullish short-term outlook.

Medium to Long-Term Averages: The stock is also above the 20-day SMA of 696.09 and the 50-day EMA of 675.97, showing overall positive momentum.

Pivot Points:

Classic Pivot Point: The Classic Pivot is at 663.22, with resistance at 721.63 and support at 620.48.

Fibonacci Pivot Points: The Fibonacci Pivot is at 663.22, with resistance levels at 701.86 and 725.73, and support levels at 624.58 and 600.71.

Woodie Pivot Points: The Woodie Pivot is at 667.19, with resistance levels at 729.58 and support at 628.42.

Chart Patterns:

Doji Candle: The presence of a Doji pattern suggests indecision in the market. This pattern often indicates potential reversals or continuation patterns depending on subsequent price action.

Spinning Top: Today's Spinning Top reinforces the theme of indecision, showing that the market is currently uncertain about the next direction.

Volatility:

Average True Range (ATR): The ATR values are fluctuating but show that recent volatility has been relatively high, which may suggest larger price swings.

Overall, KRSNAA appears to be in a bullish phase with some overbought indicators. Traders should watch the key support and resistance levels closely and be mindful of the current indecision in the market as indicated by the chart patterns.