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. Pudumjee Paper Products Limited is currently trading at 109.95, showing signs of indecision in the market, as reflected in the recent Doji and Spinning Top candlestick patterns. The stock is experiencing a downward trend after hitting its recent highs, indicating potential resistance at around 112.19 and 114.40. These levels will be crucial for traders to watch, as a sustained break above them could signal a bullish reversal.
On the downside, support can be found near 107.70 and 104.42, which may provide a buffer against further declines. The RSI is approaching oversold territory, suggesting that the selling pressure could be easing. However, the overall bearish sentiment indicated by the MACD and Williams Percent Range signals that traders should remain cautious. Keeping an eye on these key levels will be essential for making informed trading decisions.
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