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. Neogen Chemicals Limited is currently trading at 2233.95, which is about 6.53% below its 52-week high of 2390 and significantly above its low of 1176, reflecting a strong upward momentum. The RSI is nearing overbought territory, indicating that the stock may be due for a correction. The presence of a Bearish Harami pattern suggests potential reversal signals, especially following the recent inside candle formation. Support levels are seen around 2150, while resistance may manifest near 2390. The average directional index shows a robust trend, hinting at continued volatility. With MACD indicating positive momentum, traders should remain vigilant for breakout opportunities or a potential pullback to support levels.
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