Greenpanel Industries Limited (GREENPANEL) Stock - Complete Technical Analysis - Oct 29, 2024

Detailed Technical Analysis of Greenpanel Industries Limited Stock: Key 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. Greenpanel Industries Limited is currently trading at about 375, a considerable drop of 16.75% from its 52-week high of 449.9 and 39.78% above its low of 267.95. Recent price movements indicate notable volatility. Today's session opened at 365, hit a low of 357.05, and closed at 374.55, showing price gaps that suggest investor indecision.

The MACD's negative value indicates bearish momentum, while the RSI at 41.17 suggests potential oversold conditions. The ADX at 29.25 points to a strong trend but hints at a potential reversal. Stochastic and CCI indicators are also bearish.

Key support is noted around 368.1, based on Classic Pivot S1, while resistance is at approximately 391.95. Should the stock breach the resistance level, it may signal a bullish reversal. Conversely, falling below the support level could trigger more sell-offs. Traders should remain vigilant in the upcoming sessions for potential price movements.