Piramal Pharma Limited (PPLPHARMA) Stock - Complete Technical Analysis - Nov 11, 2024

Piramal Pharma Stock Analysis: Key Support & Resistance Levels Buy or Hold

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. Piramal Pharma Limited's stock has recently shown substantial movement, currently priced at 269.70, which is closer to its 52-week high than its low. Its P/E ratio of 55.6 and modest ROE of 6.48% highlight a high valuation level with moderate profitability, suitable for growth-focused investors. The RSI of 58.25 and ADX of 38.68 both support the momentum's strength, while the Stochastic %K indicates that the stock could be nearing an overbought zone.

The price trend shows a steady upward movement, with the stock trading above the 10, 20, and 30-day EMAs, reflecting strong buying interest. However, given the ATR levels and high volatility observed over the past few weeks, traders should be cautious of sudden reversals. Classic Pivot points suggest key resistance levels around 292 and 316, which may act as profit-booking zones if reached. Downside support rests in the 227-250 range, where potential rebounds could occur in the event of a pullback. For medium-term traders, a careful watch on these levels along with confirmation of trends via indicators like the MACD and RSI will be critical.