Anand Rathi Wealth Limited (ANANDRATHI) Stock - Complete Technical Analysis - Nov 11, 2024

Anand Rathi Wealth Limited Stock Analysis: Key Support, Resistance & Technical Indicators

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.

Anand Rathi Wealth Limited (ANANDRATHI) is trading close to the 3944 level, which is near a 10% drop from its 52-week high. This position, along with the Relative Strength Index (RSI) at 46 and the Average Directional Index (ADX) below 20, reflects a phase of low directional strength. With the MACD showing bearish tendencies and the Awesome Oscillator negative, the stock lacks strong upward momentum in the short term. Recent price behavior shows rejections around 4000, suggesting resistance, while moving averages around 3800 may provide support. The 50-day SMA near 3970 also implies a notable resistance zone.

For the current setup, traders may want to observe for a break above 4000 to confirm any possible bullish reversal, particularly if supported by volume. The spinning top pattern today indicates indecision, often a precursor to consolidation or a potential trend reversal. Short-term indicators like the Stochastic Oscillator and Williams %R are in oversold zones, which could mean a possible rebound if the stock manages to hold above 3900. Caution is advised, as volatility is evident in the recent ATR levels, suggesting sudden movements. Overall, short-term traders could watch for clear signals near 4000 or 3800 to establish their next moves.