Poonawalla Fincorp Limited (POONAWALLA) Stock - Complete Technical Analysis - Sep 04, 2024

Poonawalla Fincorp Technical Analysis: Key Levels, Indicators

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. Poonawalla Fincorp Limited (POONAWALLA) is currently trading at 385. Analyzing its technical indicators, the stock faces immediate resistance near the 394.98 level (10-day SMA) and has significant support around the 376.55 level (30-day SMA). The MACD is showing a positive divergence, suggesting bullish momentum, while the RSI is at 48.76, indicating that the stock is neither overbought nor oversold. The ADX is at 24.45, reflecting a moderately strong trend. Stochastic indicators are showing a neutral stance with the %K at 54.63 and Stochastic RSI at 45.8. The price is trading below the 50-day EMA of 395.26 but above the 20-day EMA of 386.65, signaling mixed short to medium-term trends. The stock's volatility, as indicated by the ATR, is relatively stable. Key resistance levels are seen at 408.65 (Fibonacci R1) and 417.49 (200-day EMA), while major support levels are at 373.92 (Camarilla S2) and 347.53 (Classic S1). Investors should watch for price action around these levels to gauge potential breakout or breakdown scenarios. Overall, while the stock is positioned near key moving averages and pivot points, the mixed signals from various indicators suggest caution and careful monitoring of upcoming price movements.