Puravankara Limited (PURVA) Stock - Complete Technical Analysis - Oct 28, 2024

Puravankara Limited (PURVA) Stock Analysis: Key Levels, Indicators & Trend Reversal Potential

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. At 392.55, Puravankara Limited (PURVA) is showing promising signs for traders as it holds firm above recent lows but remains well below its 52-week high, hinting at potential room for growth. The Bullish Engulfing and Morning Star candlestick patterns reinforce a possible trend reversal. Technical indicators like MACD reflect a bearish undertone, yet the ADX suggests a strong directional trend with chances of upward shifts if the buying volume picks up. RSI near 44 shows mildly oversold conditions, which can attract buyer interest at current levels. Moving averages such as the 10-day and 20-day SMAs show short-term resistance, implying that buyers may need more momentum to push past the 405 zone. Awesome Oscillator and Williams Percent Range indicate current weakness, although improvements could spur momentum. For traders eyeing short-term gains, monitoring support around 370 and resistance near 420 levels can be strategic for entry and exit points.