Anand Rathi Wealth Limited (ANANDRATHI) Stock - Complete Technical Analysis - Oct 25, 2024

Technical Analysis of Anand Rathi Wealth Limited (ANANDRATHI): Key Support & Resistance Levels

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.

Anand Rathi Wealth Limited is currently navigating a challenging market phase, trading at 3,996.25. This price reflects a notable drop from its recent peak of 4,382, marking an 8.80% decline from the 52-week high. The stock is 129.68% above its 52-week low, signaling significant growth from its lows. Recent candlestick patterns, including a Bearish Engulfing and an Evening Star, indicate a shift in sentiment towards bearishness, reinforcing caution among traders.

From a technical standpoint, the Average Directional Index (ADX) at 26.5 suggests the presence of a trend, albeit not particularly strong. The Relative Strength Index (RSI) at 49.24, alongside Stochastic indicators, reveals that the stock is currently in a consolidation phase, neither overbought nor oversold. Key support is observed around the classic pivot level of 3,909, while resistance may be encountered near 4,065, with prior highs around 4,147 marking significant hurdles.

The Average True Range (ATR) indicates reducing volatility, a factor that traders should monitor closely. Given the neutral MACD reading, coupled with bearish patterns and the current price trajectory, traders are advised to approach this stock with caution. A break below support could lead to a deeper pullback, whereas a rally past resistance levels may open avenues for a price recovery.

In summary, with the current price actions and the indicators at play, investors should remain vigilant regarding support and resistance levels as they navigate the trading opportunities in Anand Rathi Wealth Limited.