Zydus Lifesciences Limited (ZYDUSLIFE) Stock - Complete Technical Analysis - Sep 16, 2024

Zydus Lifesciences (ZYDUSLIFE) Stock Analysis - Key Support, Resistance & Indicators September 20

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 of Zydus Lifesciences Limited (ZYDUSLIFE). Currently, the stock is trading at 1,116, which is approximately 15.74% below its 52-week high of 1,324.3 and about 96.54% above its 52-week low of 567.75.

Support and Resistance Levels:

Immediate Support: The stock has strong support near 1,114, which aligns with its 10-period Simple Moving Average (SMA). Additional support can be observed around 1,097, corresponding to the 100-period Exponential Moving Average (EMA).

Immediate Resistance: The key resistance levels are near 1,174, where the 50-period SMA and the 200-period EMA intersect. Further resistance can be found around 1,206, which is near the Ichimoku Base Line.

Technical Indicators:

MACD: The MACD is currently in the negative territory, suggesting a bearish trend. The MACD line is below the signal line.

RSI: The Relative Strength Index (RSI) is in the neutral zone, indicating that the stock is neither overbought nor oversold.

ADX: The Average Directional Index (ADX) is relatively low, showing that the current trend's strength is weak.

Stochastic RSI: This indicator is quite high, suggesting that the stock may be overbought in the short term.

Momentum: Positive momentum indicates some upward movement, but it's not strong.

Moving Averages and Oscillators:

Moving Averages: Both the SMA and EMA show mixed signals. The short-term moving averages (10-period SMA and EMA) are below the longer-term averages (50-period and 200-period), which could imply a potential bearish trend if the stock doesnt surpass these key levels.

Oscillators: The Awesome Oscillator and Commodity Channel Index (CCI) are in negative territory, reinforcing the bearish sentiment.

Overall, Zydus Lifesciences Limited (ZYDUSLIFE) is facing resistance at higher levels while showing support at recent lows. The technical indicators suggest a cautious outlook with a possibility of consolidation or a bearish trend if the stock fails to breach key resistance levels.