Emami Limited (EMAMILTD) Stock - Complete Technical Analysis - Nov 08, 2024

Emami Limited Stock Technical Analysis: Key Levels to Watch NSE Analysis

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. Emami Limited's stock analysis shows a mixed trend. Trading at approximately 670, the stock is 22% below its 52-week high but 60% above its low. Looking at the recent five-day trend, we observe a series of fluctuations, with the stock hitting lower highs and lows, suggesting a bearish short-term trend.

The moving averages tell a story of resistance and support. The stock faces resistance near 696, where the Ichimoku Base Line is positioned. To shift towards a bullish trend, Emami would need to break past this level. The RSI is neutral, while the ADX indicates a moderate trend strength. The MACD, though, reflects a bearish crossover, suggesting that the stock might face further downside in the short term.

The Stochastic RSI and Momentum indicators hint at potential upside if the stock can consolidate above its current levels. ATR indicates volatility, with high fluctuations expected in the coming days. Traders should watch key support at 660 and resistance at 696 closely, as a breakout could dictate the next price direction. Overall, the stock appears to be in a consolidation phase, offering a cautious approach for traders.