Everest Industries Limited (EVERESTIND) Stock - Complete Technical Analysis - Nov 01, 2024

Everest Industries Limited Technical Analysis: Key Levels & Insights

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. The technical landscape for Everest Industries Limited reveals a stock trading at 1140.55, representing a distance of 21.39% from its 52-week high of 1450.95 and 22.71% above its 52-week low of 929.45. The recent bullish trend is evident from the three white soldiers pattern followed by a doji and spinning top formation, indicating indecision amidst strong buying pressure. The stock showed a sharp increase on October 31, opening at 1068.75 and reaching a high of 1189.95, suggesting a strong bullish momentum; however, it closed lower at 1126.10, indicating profit-taking.

Momentum indicators present a mixed picture. The MACD suggests positive momentum, while the RSI hints at overbought conditions, which could lead to a pullback. The immediate support can be found at the 10-day EMA of 1047.55, while the pivot levels suggest that if the stock can hold above 1100, it may continue to rally. The Average True Range indicates increasing volatility, which could lead to swift price movements. Overall, traders should keep a close eye on support around 1081.83 and resistance around 1180. Higher volumes and strong closes above these levels could signal a continuation of the upward trend.