Pidilite Industries Limited (PIDILITIND) Stock - Complete Technical Analysis - Oct 04, 2024
Pidilite Industries Technical Analysis Key Levels, Indicators, and Market Sentiment
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.
Pidilite Industries Limited (PIDILITIND) has recently seen some volatility, with the current price hovering around 3,209. The stock is about 6% below its 52-week high of 3,415, showing potential resistance near this level. On the downside, its significantly higher than its 52-week low of 2,292, suggesting strong support at lower levels. Recent price action reveals a series of lower highs, indicating some bearish sentiment, though the stock has yet to break any critical support.
In terms of technical indicators, the MACD indicates neutral momentum, while the RSI at 45 suggests the stock is neither overbought nor oversold. ADX is showing a weak trend at the moment, which indicates a lack of strong directional movement. The Awesome Oscillator reflects slight bearish momentum, further confirmed by the negative reading on the Bull Bear Power. The stochastic readings are in a middle range, hinting at indecision in the market, while the Williams Percent Range suggests the stock is approaching oversold territory, which could lead to a reversal if buyers step in.
The stock is currently trading just below key moving averages, with the 10-day and 20-day EMAs above the price, which could act as short-term resistance. The 50-day and 100-day EMAs are holding well below the current price, indicating strong support zones around 3,125 and 3,200. This area could attract buyers if the stock dips further. Overall, the stock seems to be consolidating, with a lack of clear trend direction, but investors should watch for a break above 3,300 for bullish confirmation or below 3,150 for a potential downside move. The stocks recent volatility could provide trading opportunities for short-term traders, while longer-term investors may want to wait for clearer signals.
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