Anupam Rasayan India Limited (ANURAS) Stock - Complete Technical Analysis - Oct 18, 2024

Anupam Rasayan Stock Analysis Key Support & Resistance Levels Technical Insights

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. Anupam Rasayan India Limited (ANURAS) is trading at 726, nearing its 52-week low of 715, which serves as a critical support level. The stock is in a downtrend, as evidenced by its key moving averages, such as the 200-day EMA and SMA, which are well above the current price at 814 and 832, respectively, indicating bearish momentum. Technical indicators like MACD and RSI show weak price strength, with the RSI at 37.31, signaling oversold conditions. The ADX value of 31.48 suggests moderate trend strength, with further downside possible if the stock breaks below 715.

Recent price action has shown a slight recovery, with resistance expected at 748. If ANURAS can break above this resistance, it could see further upside towards 770. However, the Awesome Oscillator and other momentum indicators like the Stochastic RSI point to continued weakness, suggesting that caution is advised. The stock's volatility, reflected by the ATR, indicates choppy conditions, making risk management critical for traders. A close watch on support at 715 and resistance at 748 is recommended for actionable trade setups.