Aurobindo Pharma Limited (AUROPHARMA) Stock - Complete Technical Analysis - Sep 17, 2024

Aurobindo Pharma Limited (AUROPHARMA) Stock Analysis Key Support & Resistance Levels

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. Aurobindo Pharma Limited (AUROPHARMA) is currently trading at 1,552, which is 2.48% below its 52-week high and 86.00% above its 52-week low. The stock has displayed strong bullish momentum recently, as indicated by the RSI nearing overbought territory, suggesting further upside potential but caution for a possible short-term pullback. The ADX indicates a weak trend strength, meaning that although the stock has been rising, momentum may be losing steam.

MACD remains positive, signaling ongoing bullishness, while the Awesome Oscillator supports the trend with continued upward force. The Stochastic %K and Williams Percent Range suggest the stock is nearing overbought levels, which could lead to some consolidation or a minor correction.

Support levels can be found around 1,500 and 1,460, while key resistance lies at 1,600. A breakout above 1,600 could push the stock to new highs, while a failure to hold above 1,500 could result in further downside correction. Traders should watch for volume increases and further movement in momentum indicators to confirm the next potential move.