Bandhan Bank Limited (BANDHANBNK) Stock - Complete Technical Analysis - Oct 16, 2024

Bandhan Bank Limited: Technical Analysis & Key Levels to Watch

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.

Today's technical analysis of Bandhan Bank Limited reveals the stock trading at 192.74, significantly below its 52-week high of 263.1 but above its 52-week low of 169.15. Recently, a downward trend is noted, particularly on October 15, when the stock opened at 200.79 and closed at 194.35, indicating a potential shift in market sentiment.

The MACD is negative, suggesting bearish momentum, while the RSI is at 45.89, indicating the stock is approaching critical levels without being overbought or oversold. The ADX, at 17.97, reflects a weak trend, suggesting volatility as the stock navigates current levels.

Support is identified around the recent low of 191.86, and resistance is likely at 200.79. The Stochastic %K hints at a potential recovery, but bullish signals remain uncertain. The average true range indicates increased volatility, prompting caution.

In summary, Bandhan Bank Limited shows mixed signals. While potential recovery exists, bearish indicators and recent price drops call for careful monitoring of support and resistance levels as market conditions change.