Annapurna Swadisht Limited (ANNAPURNA) Stock - Complete Technical Analysis - Oct 04, 2024

Annapurna Swadisht Limited (ANNAPURNA) Stock Analysis: Key Levels and Trading Insights

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. Analyzing Annapurna Swadisht Limited (ANNAPURNA), we note that the stock is currently trading at 396. The P/E ratio of 60.8 indicates that the stock is relatively expensive compared to its earnings, which may suggest investor optimism. The stock shows solid fundamentals with a ROCE of 19.6% and ROE of 16.9%, though the 0.00% dividend yield raises concerns for income-focused investors.

In terms of technical indicators, the Average Directional Index (ADX) at 26.65 reflects a trending market, while the Relative Strength Index (RSI) at 42.61 suggests that the stock is currently near the lower end of its range, indicating potential for a bounce back. The Stochastic %K is at 29.21, hinting at an oversold condition. Moreover, MACD readings are negative, suggesting a bearish trend.

The stock has experienced volatility in the past five days, with price trends revealing gaps. Recently, the stock surged, reaching a near 52-week high of 489 on August 30, 2024, which indicates bullish momentum. Its worth noting that Annapurna Swadisht is currently trading 0.20% below this high and 93.92% above the 52-week low of 251.65 recorded on September 29, 2023.

Support levels can be seen around 349.77 and 305.43, while resistance is observed near 422.33 and 466.67. Traders should monitor these levels closely. The recent trend suggests a potential reversal if the stock can maintain above the support levels.

Overall, Annapurna Swadisht Limited presents an interesting case for traders looking for potential upside, especially if it breaks through resistance levels with strong volume.