Narayana Hrudayalaya Ltd. (NH) Stock - Complete Technical Analysis - Oct 24, 2024

Narayana Hrudayalaya Ltd. Technical Analysis: Support, Resistance & Trading 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. Narayana Hrudayalaya Ltd. (NH) is experiencing fluctuations around the 1,240 mark, a notable deviation from its recent trading range. The stock is currently 14.50% below its 52-week high of 1,444.9, which may suggest potential resistance at higher levels. The ATR reflects heightened volatility, indicating that traders should be prepared for sudden price movements. Support appears robust at approximately 1,170.68, while resistance can be observed at around 1,362.18.

From a technical standpoint, the RSI indicates that NH is nearing oversold conditions, while the MACD being negative suggests a bearish sentiment. The ADX, hovering around 15.35, signifies a weak trend which may create opportunities for traders looking for a potential reversal. Recent price movements, particularly a significant drop on October 23, highlight the necessity for vigilance in observing price trends and market reactions.

Traders are advised to consider the support at 1,170.68 for potential entry points while remaining alert to resistance around 1,362.18. A breach of these levels could provide signals for further trading opportunities, either to the upside or downside.