Aurobindo Pharma Limited (AUROPHARMA) Stock - Complete Technical Analysis - Nov 08, 2024

Aurobindo Pharma Stock Analysis: Key Support & Resistance Levels, Price Trends & Reversal Signals

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.

Aurobindo Pharma is showing a downward trend with a current price around 1,328. Indicators like the RSI, at very low levels, suggest the stock is oversold, while the ADX's high reading indicates a strong downtrend. The recent bearish MACD movement aligns with the trend, confirming the ongoing selling pressure. Meanwhile, the 200-day EMA near 1,292 is a critical support level; a break below this could signal further downside. However, if the stock holds near this support level, the momentum might shift, potentially testing resistance near the 1,380 mark. The ATR points to heightened volatility, so price swings are expected in the coming sessions.