Parag Milk Foods Limited (PARAGMILK) Stock - Complete Technical Analysis - Aug 30, 2024

Parag Milk Foods Stock 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.

Let's analyze Parag Milk Foods Limited (PARAGMILK) from a technical perspective. The current stock price is 191. The Average Directional Index (ADX) at 18.59 suggests a weak trend, while the Relative Strength Index (RSI) is at 46.63, indicating the stock is in a neutral zone, not overbought or oversold. The Moving Average Convergence Divergence (MACD) shows a level of 0.74, which suggests mild bullish momentum. However, the Stochastic Oscillator at 41.48 and Williams Percent Range at -69.29 suggest a slight bearish bias, with the stock currently showing some weakness.

Support levels are observed around the Fibonacci S1 at 178.58 and the Classic S1 at 174.58, while the resistance levels are noted at the Fibonacci R1 of 207.98 and the Classic R1 of 213.06. With the stock trading below key moving averages like the 200-day SMA at 210.21 and EMAs ranging from 192.29 to 195.26, the trend appears to be in a consolidation phase. The stock is trading 34.13% below its 52-week high of 289.75, which shows a significant decline, while it's also 27.40% above the 52-week low of 149.8, suggesting some recovery.

Considering these indicators and price action, Parag Milk Foods seems to be in a consolidation phase with limited upside unless it can break through resistance levels with increased volume. Traders should watch for a crossover of key moving averages and a stronger ADX for trend confirmation.