Narayana Hrudayalaya Ltd. (NH) Stock - Complete Technical Analysis - Sep 26, 2024

Narayana Hrudayalaya Ltd Technical Analysis Key Support & Resistance Levels

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.

Welcome to our technical analysis of Narayana Hrudayalaya Ltd. (NH). The stock is currently trading at 1,237, reflecting a solid performance despite being approximately 14.56% below its 52-week high of 1,444.9 and 25.98% above its 52-week low of 979.95.

Examining key indicators, we find that the MACD is currently negative, suggesting bearish momentum. The RSI is hovering around 43, indicating the stock is nearing an oversold territory, which could imply a potential reversal if buying pressure increases. The Stochastic indicators are also showing oversold conditions, with the Stochastic %K at 13.33, reinforcing the possibility of a bounce-back in the near term.

The Average Directional Index (ADX) at 21 indicates a weak trend, suggesting that we may be in a consolidation phase. The commodity channel index is in the negative territory, further supporting the bearish sentiment.

On the moving averages front, the stock is trading below the 10-day and 20-day exponential moving averages, which currently stand at 1,258.43 and 1,268.84, respectively. This positioning points to continued downward pressure in the short term. However, significant support can be identified around the classic pivot level of 1,250.32, which may act as a crucial point for potential recovery. If the stock manages to break above this level, it could face resistance at the Ichimoku Base Line of 1,303.68.

Overall, while there are signs of bearish momentum, the oversold conditions suggest that traders should watch for potential buying opportunities near the support levels. A close monitoring of volume trends could also provide additional insights into the stock's future movements. Stay tuned as we analyze more market trends and trading opportunities.