EID Parry India Limited (EIDPARRY) Stock - Complete Technical Analysis - Sep 20, 2024

EID Parry India Technical Analysis Key Levels to Watch September 2024

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.

In today's analysis, we look at EID Parry India Limited, currently trading at 833.85. The stock is showing strength as it approaches a key resistance level around 875, just 4.70% below its 52-week high. Support can be identified near 812, which has held up well in recent trading sessions.

The RSI is hovering in a neutral range, indicating that the stock is not overbought or oversold. However, the Stochastic is beginning to trend upwards, suggesting a potential bullish momentum building. The MACD is also indicating positive movement, reinforcing the potential for upward price action.

With the Average Directional Index indicating a weakening trend, traders should be cautious and monitor the price action closely. A breakout above the resistance level at 875 could lead to further gains, while a dip below the support at 812 may trigger a reversal.

Overall, EID Parry appears to be in a consolidation phase with bullish signals, making it a stock worth watching for potential trading opportunities.