Amrutanjan Health Care Limited (AMRUTANJAN) Stock - Complete Technical Analysis - Nov 01, 2024

Amrutanjan Health Care Technical Analysis Key Levels & Market Sentiment

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.

Amrutanjan Health Care Limited is at a pivotal price point, trading just under the resistance of 770-780 while holding support around 730-740. The RSI is neutral at 51, reflecting balanced buying and selling pressures, and the ADX remains low, suggesting an overall weak trend. A Doji with a spinning top in today's candlestick hints at market indecision, often a precursor to significant movement.

Given the bearish MACD and negative Awesome Oscillator, there is a risk of further downside if support levels are breached. However, short-term EMAs closely tracking the current price show consolidation, and any upward break above 770 could encourage momentum towards the 800 level. Traders might watch for signs of a breakout if volume increases near the 770 resistance, with short-term targets near Fibonacci retracement levels. Investors should also factor in ATR values, which indicate moderate volatility, suggesting manageable risk for short-term trades as long as key support levels hold.