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. Nupur Recyclers Limited (NRL) is currently trading at 105.43, showing significant volatility in recent sessions. The stock recently formed a bearish pattern characterized by a potential reversal, indicated by its shooting star formation, suggesting caution for traders. The MACD is bearish, highlighting downward momentum, while the RSI indicates that the stock is approaching oversold territory, reflecting weak price action.
Key support is identified at 103.22, which the stock must maintain to avoid further declines. Resistance is observed at 116, and a break above this level could signal a bullish reversal. Traders should closely monitor price movements around these levels, as they could provide insights into the stock's future direction.
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