PVR INOX Limited (PVRINOX) Stock - Complete Technical Analysis - Sep 06, 2024

PVR INOX Technical Analysis: Key Support, Resistance

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. For PVR INOX Limited (PVRINOX), currently trading at 1567.10, the stock is showing interesting technical signals. The stock's price is 16.44% below its 52-week high of 1875.45, indicating a potential resistance at this level, while it's 30.14% above its 52-week low of 1204.2, suggesting a strong support zone.

On the technical front, the Average Directional Index (ADX) at 10.67 reflects a weak trend, indicating a sideways market. The Relative Strength Index (RSI) is at 63.26, showing that the stock is nearing the overbought territory but not yet there. The Stochastic Oscillator readings, with %K at 78.43 and Stochastic RSI Fast at 89.8, support the RSI findings, suggesting that the stock could be overextended.

The MACD level of 22.32 indicates a positive momentum, while the Awesome Oscillator at 43.29 also supports a bullish outlook. However, the Williams Percent Range at -21.5 suggests a market that might be reaching an overbought phase.

Support levels are expected around the Exponential Moving Averages (EMAs) with the 50-day EMA at 1478.77 and the 100-day EMA at 1455.54, while resistance may be encountered near the 10-day EMA at 1532.4. The classic pivot point of 1492.68 and the Camarilla Pivot R1 at 1529.34 provide additional reference points.

The stock formed an inside candle pattern on September 5, 2024, with a range between 1528.3 and 1590.95. This pattern, with the stock trading within this range for two days, suggests a period of consolidation. Overall, traders should watch for breaks above resistance levels for bullish signals or dips towards support levels for potential buying opportunities.