Suven Pharmaceuticals Limited (SUVENPHAR) Stock - Complete Technical Analysis - Sep 19, 2024

Suven Pharmaceuticals Stock Analysis: Key Levels and Indicators Explained NSE Stock Review

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.

Suven Pharmaceuticals Limited (SUVENPHAR) Technical Analysis

Currently trading at 1,179, Suven Pharmaceuticals Limited is facing some significant technical observations. The stock is 6.17% below its 52-week high of 1,257 and 127.70% above its 52-week low of 518, indicating strong recent performance but potential resistance at higher levels.

Support Levels:

Primary Support: The stock's primary support is found around the 1,135 to 1,164 range, near the Simple Moving Average (SMA) 20 and Exponential Moving Average (EMA) 10, which may offer strong support.

Secondary Support: Additional support is likely at the 1,017 level, aligning with the SMA 50 and EMA 30.

Resistance Levels:

Immediate Resistance: The stock is encountering resistance near 1,184, aligning with the SMA 10. This is a key level to watch as it may dictate short-term movement.

Extended Resistance: Resistance could also emerge around the 1,234 to 1,257 range, near the Classic Pivot R2 and the 52-week high.

Technical Indicators:

MACD: The MACD level is showing a bullish trend, which supports the possibility of further upward movement.

RSI: The RSI is in the upper range, indicating that the stock is nearing overbought conditions. This suggests caution as the stock could face a pullback if RSI trends down.

ADX: The ADX is strong, indicating a strong trend. However, it is important to watch for potential reversals or consolidation.

Stochastic Indicators: The Stochastic %K and Stochastic RSI are showing mixed signals, suggesting possible indecision or volatility ahead.

Awesome Oscillator: This is currently bullish, supporting the potential for continued upward momentum.

Moving Averages:

The stock is trading above all significant moving averages, including the SMA 50, EMA 20, and EMA 30, indicating a strong bullish trend.

Watch for possible price corrections if the stock encounters resistance near these averages.

Volume Weighted and Pivot Levels:

The stock's volume-weighted moving average is around 1,154, and it's crucial to observe if the price holds above this level.

Classic, Camarilla, and Fibonacci pivot levels suggest key zones for support and resistance.

In summary, Suven Pharmaceuticals is currently in a strong bullish trend, but traders should be vigilant about resistance levels and overbought conditions. Watch key support and resistance levels closely to make informed trading decisions.