Pidilite Industries Limited (PIDILITIND) Stock - Complete Technical Analysis - Nov 07, 2024

Pidilite Industries Stock Analysis Support, Resistance, & Key Insights November 2024 Update

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. Pidilite Industries (PIDILITIND) is showing signs of consolidation at current levels around 3,158. The stock has faced some volatility recently, with fluctuations in the range of 3,100 to 3,220. The current price is close to key resistance around 3,200, which has kept the stock in a tight range. While the stock is trading above its 200-period Exponential Moving Average (EMA), the near-term price action suggests some indecision, as seen with the Average Directional Index (ADX) of 10.42, which indicates a weak trend.

The Relative Strength Index (RSI) of 49.46 is neutral, suggesting no strong momentum in either direction. However, the MACD is negative, indicating that the stock could face downward pressure in the near term. Despite this, the Commodity Channel Index (CCI) remains positive, suggesting that there is still some bullish sentiment. Support levels are being tested around 3,120 and 3,100, which could act as a cushion if the stock faces further declines. Traders should keep an eye on the 3,200 resistance and watch for any breakouts or pullbacks before making trading decisions. If the stock breaks above 3,200, the next resistance levels are likely around 3,250. Conversely, a breakdown below the support levels could push the stock lower, potentially testing the 3,000 mark.