Anand Rathi Wealth Limited (ANANDRATHI) Stock - Complete Technical Analysis - Oct 09, 2024

Anand Rathi Wealth Stock Analysis: Bullish Trend, Key Support & Resistance Partha Kuchana - Finan

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. Anand Rathi Wealth Limited (ANANDRATHI) is currently trading at 4,127, showing a steady upward trend, with the price being 4.02% below its 52-week high of 4,299.95. The stock is significantly up from its 52-week low of 1,739.9, signaling strong bullish momentum. Technical indicators show a positive bias, with the RSI near the overbought zone, suggesting the stock may face resistance soon. The MACD is trending upward, confirming bullish momentum, while ADX shows a weak directional trend, indicating a potential consolidation phase. The stock's recent price action shows higher highs and higher lows, confirming an upward trend. Key support lies around 3,960, with resistance at 4,168 based on recent highs. Moving averages, including the 50-day and 100-day EMAs, are well below the current price, further confirming the bullish trend. Momentum indicators, like the CCI and Williams %R, are signaling overbought conditions, so caution is advised for new entries. Traders should watch for a breakout above 4,168 or a retracement towards the support level to assess the next move. Overall, this stock remains in a strong uptrend but is approaching key resistance levels where profit-taking may occur.