Linde India Limited (LINDEINDIA) Stock - Complete Technical Analysis - Oct 23, 2024

Linde India Stock Analysis: Key Support & Resistance Levels Revealed

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. Linde India Limited is trading at 7974.65, which is a notable 19.73% below its 52-week high of 9935.05. The stock has recently displayed a Doji candle, indicative of indecision in the market, followed by a Bullish Harami pattern, suggesting possible reversal or consolidation. The RSI at 44.83 indicates that the stock is not in overbought or oversold territory.

Key support levels are at approximately 7503.5 and 6521.9. On the resistance front, the classic pivot point at 8141.75 serves as an immediate barrier. The ADX is at 21.65, showing a weak trend, while MACD hints at bullish sentiment, moving into a positive territory.

In terms of volatility, the ATR suggests moderate price movements, critical for traders to exploit. The Stochastic Oscillator's %K is at 32.26, indicating potential upward movement; however, negative momentum remains a concern.

Traders should observe for confirmation of a reversal at this price point. A break above 8141.75 may initiate a stronger bullish trend, while a dip below 7503.5 could indicate further downside potential.