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ZUARI INDUSTRIES LIMITED (ZUARIIND) Stock - Complete Technical Analysis - Nov 01, 2024
Technical Analysis of ZUARI INDUSTRIES: Support, Resistance & Trends
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. Currently priced at 345.30, ZUARI INDUSTRIES LIMITED stands 18.45% below its 52-week high of 423.40, achieved on July 8th. This position also shows a remarkable 142.23% increase from its 52-week low of 142.55 recorded on November 1st. Todays Spinning Top candlestick pattern indicates indecision in the market, with the stock opening at 343.40, hitting a low of 341.00, and peaking at 347.95.
Key support levels can be observed around 341, reflecting the recent low and aligning with important moving averages. Resistance can be seen around the 348 level, with further resistance at 351 and 358, crucial points derived from previous highs and moving average convergence.
The technical indicators present a mixed outlook: the RSI is near neutral, reflecting an equal balance between buyers and sellers, while the MACD is in a bearish position. The low ADX suggests that the stock may not exhibit strong trend momentum in the near term, favoring a potential range-bound environment.
Additionally, the ATR indicates fluctuating volatility, which could result in sudden price movements. The Stochastic indicator signals possible upward momentum, with values approaching oversold territory. Traders should stay vigilant for price surges beyond 348, indicating bullish trends, while drops below 341 could indicate a bearish continuation. With these insights, ZUARI INDUSTRIES presents various opportunities and challenges for astute traders.
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