Nuvama Wealth Management Limited (NUVAMA) Stock - Complete Technical Analysis - Nov 11, 2024

Nuvama Wealth Management Stock Analysis: Key Levels, Indicators & Price Trends Explained

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. Nuvama Wealth Management's stock (NUVAMA), currently trading at 6813, presents a mixed technical outlook. The stock has recently experienced pullbacks, hovering below the 52-week high, with RSI around 49 suggesting a balanced stance. ADX at 14 implies a weak trend, while the MACD continues to support a bullish momentum that's gradually losing steam, as indicated by a declining Awesome Oscillator. Moving averages indicate a long-term uptrend, though recent closes below the 10-day EMA suggest caution. The immediate support level is around 6700, with a stronger support further below, near the 6200 level. Resistance is seen around 7300, where a break above could signal a strong uptrend continuation. The Ichimoku Base Line reinforces this outlook, supporting 6700 as a key level. Traders should keep an eye on volume and volatility for clearer direction, especially in this consolidation phase.