Piramal Pharma Limited (PPLPHARMA) Stock - Complete Technical Analysis - Sep 06, 2024

Piramal Pharma Stock Analysis: Bullish Momentum

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. Piramal Pharma Limited is currently trading at 226.31, showing notable strength above its 52-week low of 87.5, but still below its recent 52-week high of 196.5. The stock's performance is backed by a strong Average Directional Index (ADX), indicating a robust trend. However, the Relative Strength Index (RSI) and Stochastic indicators suggest the stock is overbought, signaling a potential for a price correction or consolidation. The MACD is also bullish, but the stock is trading significantly above key moving averages, including the 10, 20, and 50-day EMAs and SMAs, suggesting potential resistance. Support levels are observed near the Classic Pivot and Fibonacci Pivot points, around 182.83 to 199.65, while resistance might be encountered near the Woodie Pivot R1 and R2 levels, around 203.65 to 212.32. Overall, the technical indicators reflect strong bullish momentum, but caution is advised due to overbought conditions. Traders should monitor for possible pullbacks or consolidations around key support zones.