Affle (India) Limited (AFFLE) Stock - Complete Technical Analysis - Oct 25, 2024

"Affle India Stock Analysis: Key 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.

Affle (India) Ltd., trading around 1,465, shows signs of limited momentum amidst recent volatility. The stocks RSI sits at 35.4, suggesting it is nearing oversold territory, while the ADX value of 16.14 reflects a weak trend, a telltale sign of the stocks sideways movement. The MACD remains negative, highlighting sustained bearish momentum, reinforced by the Awesome Oscillators downward trend and the negative Bull Bear Power at -116.1. These indicators collectively imply low buying interest, as sellers maintain pressure on the stock.

In terms of moving averages, Affle trades below key EMAs, with the 200-day EMA at 1,361, suggesting continued bearish pressure in the medium term. The Ichimoku Base Line also sits above the current price, indicating the need for significant bullish momentum to break out of the current range. Given the observed Doji and Spinning Top candlestick patterns, this market is undecided, and traders should watch for directional cues before positioning.

Key support is near 1,435, while resistance levels hover around 1,550. Short-term traders may find opportunities if the price holds above the Hull Moving Average at 1,452. Still, a break below immediate support levels would suggest downside risk towards the lower Fibonacci and pivot supports, reinforcing a cautious stance for traders in this phase.