Syngene International Limited (SYNGENE) Stock - Complete Technical Analysis - Oct 24, 2024

Syngene International Limited (SYNGENE) Stock Technical Analysis 2024 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. In this segment, we explore Syngene International Limited, which is currently trading at 879.75. The recent price activity shows significant bullish patterns, such as a bullish engulfing and a morning star formation, signaling potential upside. Key support is established around the 853 level, while resistance lies at 895, with the stock trading 6.93% off its 52-week high of 945.25.

Indicators such as the ADX at 16 suggest a weak trend, but the RSI at 52 indicates a neutral position, providing room for movement. The MACD is negative, indicating caution, but could shift positively with increased buying activity. The ATR is around 45, reflecting notable volatility which traders can leverage for both entry and exit strategies.

Investors should watch how Syngene interacts with these technical levels, especially as market sentiment evolves, presenting opportunities for both short-term and long-term strategies.