Aster DM Healthcare Limited (ASTERDM) Stock - Complete Technical Analysis - Oct 08, 2024

Technical Analysis of Aster DM Healthcare: Key Support & Resistance Levels Revealed

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.

Aster DM Healthcare Limited is currently trading at 418.35, reflecting a notable position 25.03% below its 52-week high of 558.0 reached in April 2024, and 34.47% above its low of 311.1 in June 2024. The stock's recent performance indicates a volatile trading environment, with significant fluctuations observed in the last five trading days. Notably, the recent surge to a high of 422.00 today shows potential bullish momentum. However, it faced a price drop from 422.00 to 418.35, indicating some selling pressure and possible profit-taking.

From a technical analysis perspective, the stock shows positive signs with the RSI hovering around 55.75, suggesting that the stock is in a neutral to bullish trend. The MACD is currently above zero, reflecting positive momentum, while the Stochastic RSI suggests the stock may be oversold, presenting a potential buying opportunity.

Support levels can be identified around 405.85 and 396.23, based on the recent lows and classic pivot points. Resistance is observed at 436.48, with the stock needing to break through this level to continue its upward trend. The ADX at 39.5 suggests a strong trend, and with the current price trading above the Exponential Moving Averages (EMA), it may indicate sustained bullish sentiment. The recent average true range (ATR) indicates increasing volatility, which traders should monitor closely as it may signal potential price swings.

In summary, Aster DM Healthcare Limited appears to be navigating a volatile market with bullish indicators and support levels to watch. Traders should look for confirmation of upward momentum past resistance levels while being cautious of sudden price corrections.