Amrutanjan Health Care Limited (AMRUTANJAN) Stock - Complete Technical Analysis - Oct 01, 2024

Amrutanjan Stock Analysis Key Support & Resistance Levels Bearish Pattern Alert

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. Amrutanjan Health Care Limited is currently trading at 795, showing resilience as it remains 41% above its 52-week low and just 7.82% below its 52-week high. The stock is experiencing moderate momentum, with the RSI hovering around 51, indicating neutrality and suggesting that the stock is neither overbought nor oversold. A key technical pattern observed is the Bearish Harami, which could signal potential downside pressure if confirmed by future price movements. Additionally, an inside candle pattern was identified, showing a range-bound trading session, which could indicate a consolidation phase before a potential breakout. The MACD is positive, reflecting ongoing bullish sentiment, although the Awesome Oscillator is in the negative, pointing to some underlying weakness. ADX suggests a mild trend, with no significant directional strength, making it essential to watch for any sharp moves in either direction. Key support lies around the 690-750 range, with resistance levels near 860-900, presenting a potential trading range for the near term. The moving averages suggest short-term support around 788, while longer-term trends remain positive as the stock holds well above its 200-day EMA. This stock may offer opportunities for both swing traders and long-term investors, depending on how the price reacts at these critical support and resistance levels.