Navin Fluorine International Limited (NAVINFLUOR) Stock - Complete Technical Analysis - Oct 25, 2024

Navin Fluorine Stock Analysis Support & Resistance Levels Technical Insights for Traders

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.

Navin Fluorine International (NAVINFLUOR) is currently positioned at a critical level, trading at 3301.75. The stock shows a recent decline in momentum, backed by RSI near 46, hinting at a neutral trend but with a slight bearish edge. The MACD level further supports this, as it remains negative, indicating that downward pressure could continue unless a significant reversal pattern emerges.

Bearish indicators include Evening Star and Bearish Engulfing patterns, which imply that sellers dominate, pushing prices lower. The ADX value at 12.43 shows a lack of strong directional trend, suggesting choppy movement in the short term.

The support level at 3240 is crucial; if breached, a further decline toward 3050 may follow. Meanwhile, key resistance levels are seen around 3370 and 3550, where any upward break could shift momentum favorably. Short-term moving averages also remain bearish, with the stock below both 50-day and 100-day EMAs. The Volume Weighted Moving Average near 3395 suggests that current trading volumes support the existing bearish trend.

Overall, traders should exercise caution as NAVINFLUOR consolidates. A decisive move above 3370 or a dip below 3240 could set the tone for the next phase. Keep an eye on volume and momentum indicators for confirmation before entering a position.