CARYSIL LIMITED (CARYSIL) Stock - Complete Technical Analysis - Oct 31, 2024

CARYSIL Technical Analysis: Key Support & Resistance Levels Explained

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. CARYSIL LIMITED's current price of 805 reflects a critical phase in its technical landscape. The stock faces support at around 785.81 and resistance at approximately 890.9. A notable observation is the stocks decline from its 52-week high of 1150.95, signaling a significant shift in market dynamics. The MACD indicates bearish momentum, reinforcing the importance of watching the support level closely. The RSI hovering around 52.79 suggests that the stock is currently balanced, neither overbought nor oversold, while the ADX at 25.03 signifies a trend that, while present, lacks strength.

In the last five trading sessions, we noted a wide trading range, with the stock achieving a high of 812.45 and a low of 789.15, demonstrating volatility. This fluctuation may attract traders looking for short-term gains, especially given the signs of a potential reversal after recent dips.

Traders should monitor upcoming price movements closely, particularly the action around the established support and resistance levels, to inform their trading decisions effectively.