PNB Housing Finance Limited (PNBHOUSING) Stock - Complete Technical Analysis - Sep 06, 2024

PNB Housing Finance Stock Analysis Technical Indicators, Support

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. PNB Housing Finance Limited's stock, currently trading at 1,023, shows a dynamic technical profile. The stock has recently encountered resistance near 1,109, with the current price approximately 2.85% below its 52-week high. On the support side, the significant level to watch is around 832, which marks a crucial support base. The stock has demonstrated a strong upward momentum, highlighted by indicators like the MACD, which remains in a bullish phase, and the RSI showing overbought conditions. The ADX indicates a robust trend with a strong directional movement, suggesting a prevailing uptrend. The Stochastic Oscillator and Stochastic RSI confirm the overbought condition, signaling a potential short-term pullback. The stock's moving averages, including the 10-day EMA at 976.49 and the 200-day EMA at 771.75, indicate that it is trading above these averages, reinforcing the positive trend. The current technical setup also reveals an Inside Candle pattern, with the stock trading within a range of 1,015 to 1,109, which might suggest consolidation before a breakout. Overall, while the stock is in an uptrend, traders should be cautious of potential resistance around 1,100 and support around 832.