Emami Limited (EMAMILTD) Stock - Complete Technical Analysis - Sep 18, 2024

Emami Limited (EMAMILTD) Technical Analysis: Support, Resistance & Current 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.

Emami Limited (EMAMILTD) is currently trading at 745, which is about 13.4% below its 52-week high and 78.5% above its 52-week low. The technical indicators suggest the stock is under pressure with a bearish outlook. The RSI and Stochastic indicators are in the oversold territory, indicating potential further weakness. The MACD is negative, and the Awesome Oscillator also reflects bearish momentum.

Support levels for EMAMILTD are identified around 725 and 700, while resistance is anticipated at 770 and 810. The ADX suggests a weak trend, which could lead to a consolidation phase or potential reversal. The recent Inverted Hammer pattern hints at a possible bullish reversal, but it's considered less reliable in the current market conditions.

Given the stocks recent performance and technical signals, traders should be cautious of potential short-term declines. Monitoring for any signs of a reversal or confirmation of bullish trends would be prudent before making significant moves.