Anant Raj Limited (ANANTRAJ) Stock - Complete Technical Analysis - Oct 10, 2024

Anant Raj Limited Stock Technical Analysis: Bullish Momentum Continues ðŸˆðŸ Price Targets & Key

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.

Anant Raj Limited (ANANTRAJ) is currently trading at 755.3, slightly below its 52-week high of 762.0, indicating potential resistance at this level. However, the stock is showing strong bullish momentum with a 243% increase from its 52-week low. The technical indicators suggest a continued uptrend, supported by the formation of the Three White Soldiers pattern, a strong bullish continuation signal. This indicates that the stock could see further upward movement if it breaks the resistance at its recent high.

The RSI is in the overbought zone, indicating potential consolidation or a short-term pullback. However, the ADX suggests a strong trend, and the MACD is showing positive momentum, hinting at continued bullish sentiment. The Awesome Oscillator and Bull Bear Power further reinforce the positive momentum in the stock.

Moving averages are aligned with the uptrend, with the current price trading well above the 50-day and 200-day EMAs, confirming the bullish outlook. Immediate support is seen around the 720 level, with the next major support at 680. Traders should watch out for a breakout above 762, which could signal further upside toward 800+ levels. On the downside, a drop below 720 could lead to a deeper correction.

Volatility remains moderate, as indicated by the ATR, and price gaps from recent sessions highlight increased buying pressure. Overall, ANANTRAJ is showing solid momentum, but traders should watch closely for any reversal signals, especially with the stock approaching overbought zones.