BASF India Limited (BASF) Stock - Complete Technical Analysis - Sep 19, 2024

BASF India Stock Analysis Key Support & Resistance Levels BASF Technical Breakdown

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. BASF India Limited (BASF) is currently trading at 6854.10, showing a notable pullback from its recent 52-week high. The stock has formed an Inverted Hammer pattern, suggesting a potential bullish reversal, though this pattern is considered less reliable on its own. The RSI indicates the stock is in a relatively neutral zone, not overbought or oversold. The ADX reveals a strong trend, with the average directional index showing solid momentum in the market. The MACD is in a positive range, supporting a bullish outlook.

Support levels are expected around 6800, aligning with various moving averages, including the 20-day and 50-day EMAs. Resistance is likely to be met near 7000, reflecting areas where the stock has previously encountered selling pressure. The current market conditions suggest that while there is potential for further gains, traders should watch these levels closely for any signs of breakout or reversal.

Overall, BASF India is showing a mix of bullish and neutral signals, making it crucial to monitor price movements around key support and resistance zones.