Supriya Lifescience Limited (SUPRIYA) Stock - Complete Technical Analysis - Sep 30, 2024

Supriya Lifescience Stock Analysis: Key Levels & Insights for Traders

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.

Supriya Lifescience Limited is currently trading at 562.95, showing a remarkable recovery of 139.66% from its 52-week low of 234.9, achieved on October 26, 2023, while remaining 16.60% below its 52-week high of 675 reached on September 16, 2024. The stock is exhibiting mixed signals from several technical indicators. The MACD is indicating positive momentum, suggesting potential bullish sentiment, while the RSI is hovering around neutral levels, reflecting indecision among traders. The Stochastic oscillator is in oversold territory, hinting at a possible bullish reversal in the near future.

The Average Directional Index (ADX) is showing a strong trend, reinforcing that a significant movement may be on the horizon. In terms of moving averages, the stock is currently trading below both the 10-day and 20-day exponential moving averages, indicating a short-term bearish trend. However, it remains well above the 200-day exponential moving average, suggesting overall bullish strength in the longer term.

Key support levels to watch are at around 528.16, as indicated by the Camarilla pivot, and further down at 501.95 from the classic pivot. Resistance levels are expected near the 563.34 level, coinciding with Camarilla R1, and at approximately 619.8, based on the classic pivot R1.

Additionally, the Inverted Hammer pattern observed indicates a potential bullish reversal, although this signal should be approached with caution due to its lesser reliability. Investors should keep a close eye on price action around these key levels to make informed trading decisions.