Devyani International Limited (DEVYANI) Stock - Complete Technical Analysis - Sep 19, 2024

Devyani International Technical Analysis: Key Support & Resistance Levels September 2024 Forecast

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. Devyani International Limited (DEVYANI) is currently trading at 196, which is about 12.11% below its 52-week high of 223 and 37.78% above its 52-week low of 142.

The stock exhibits strong bullish signals across multiple technical indicators. The RSI is indicating that the stock is in overbought territory, which might suggest that it is due for a potential correction. The Stochastic %K and Stochastic RSI are also in overbought zones, reinforcing this notion. The MACD is above its signal line, suggesting a bullish trend, while the Commodity Channel Index and Awesome Oscillator support this bullish momentum.

The Average Directional Index indicates a strong trend, but the Bull Bear Power remains positive, showing buying strength. The Ultimate Oscillator confirms that the stock has strong bullish momentum, though the Williams Percent Range signals that the stock may be nearing a peak.

Support levels for DEVYANI are around 175 and 150, while resistance is anticipated near 200 and 220. The stocks position relative to its moving averages suggests it is trading above the short-term averages and has a solid upward trajectory. With patterns and indicators pointing towards a strong bullish sentiment, traders should monitor these levels for potential price movements and corrections.