Puravankara Limited (PURVA) Stock - Complete Technical Analysis - Sep 27, 2024

Puravankara Stock Analysis: Key Support & Resistance Levels for Traders PURVA NSE

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. Puravankara Limited (PURVA) is currently trading at 406, showing significant volatility with notable bearish signals. The RSI is hovering at 32, indicating the stock is nearing oversold territory, potentially pointing to a reversal. MACD is in the negative zone, suggesting a continuing downtrend, while the ADX reflects moderate trend strength. Stochastic indicators also reveal bearish momentum, with a deep dive into oversold levels. The Awesome Oscillator and Momentum both signal negative price action, reinforcing the bearish sentiment.

In terms of moving averages, the stock is trading well below key short-term EMAs and SMAs, highlighting bearish pressure. With the price below the 10-day and 20-day averages, downward pressure remains dominant. The 200-day moving average, however, provides strong support around 359, which could act as a long-term floor for the stock.

Key support is observed around 432, while resistance is seen near 466, both crucial for upcoming price action. A break below 432 could trigger further selling pressure, while a move above 466 would be the first signal of a recovery.

Given the long-term potential of Puravankara in the real estate sector, traders should closely monitor for any trend reversals. The current market sentiment suggests caution, but aggressive traders might explore short-term opportunities if the stock bounces from oversold levels. Keep an eye on momentum indicators to identify the right entry points for swing trades.