Vedant Fashions Limited (MANYAVAR) Stock - Complete Technical Analysis - Oct 16, 2024

Vedant Fashions Stock Analysis: Bullish Momentum, Key Levels to Watch MANYAVAR Stock

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.

Vedant Fashions Limited (MANYAVAR) is currently trading at 1,359, slightly below its 52-week high of 1,487.9. The stock has shown a steady uptrend over the last few days, with no significant gaps or volatility, signaling stability in its price movement. RSI and MACD are both bullish, confirming the continuation of the uptrend, but RSI is nearing overbought levels, which might lead to a correction in the short term. ADX suggests moderate trend strength, while Awesome Oscillator and Bull Bear Power show buying momentum is strong.

The stock is trading above key moving averages, such as the 50-day and 200-day, which confirms the bullish outlook. In terms of support and resistance, the next major resistance stands near 1,400, with a strong support level around 1,300. Traders should monitor the price closely for a potential breakout above 1,400, or if a correction occurs, wait for the price to reach 1,300 for better entry points.