Aarti Pharmalabs Limited (AARTIPHARM) Stock - Complete Technical Analysis - Oct 29, 2024

Aarti Pharmalabs Ltd (AARTIPHARM) Stock Analysis Support & Resistance RSI, MACD, ADX 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.

Currently trading near 609, Aarti Pharmalabs (AARTIPHARM) shows a tendency for short-term consolidation within a defined range. The RSI around 47 implies that momentum is neutral, while the ADX at 14.25 supports a weak trend environment, meaning traders may expect sideways movement in the near term. The MACD remains negative, with a bearish crossover that aligns with a recent dip in Awesome Oscillator values. This combination suggests limited upside momentum, although the stock has found some support around its 200-day moving averages.

Several moving averages provide a clear picture of support and resistance levels. The stock is slightly below its 10, 20, and 30-day EMAs and SMAs, underscoring resistance at approximately 620-625. If the price sustains above this resistance range, it may signal a near-term bullish reversal. The broader technical picture shows the stock well above its 200-day average, indicating a generally positive long-term outlook, with potential support reinforced near 589 and strong resistance near 652, as shown by pivot calculations. This range suggests that traders should look out for price movements around these levels, especially if the stock breaks either support or resistance on higher volumes.

The ATR levels reveal moderate volatility, so price swings within this range are expected. A decisive break above 652 could signal bullish momentum, while sustained movement below 589 may indicate the possibility of further downside.