Zydus Wellness Limited (ZYDUSWELL) Stock - Complete Technical Analysis - Nov 12, 2024

Zydus Wellness Technical Analysis: Key Support & Resistance Levels for Traders

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.

Zydus Wellness Limited (ZYDUSWELL) shows a cautious stance as it hovers around 1,897. With a high P/E ratio of 379, valuations are relatively stretched, and low ROE and ROCE figures reflect subdued profitability. The RSI level of 43.2 suggests a slight tilt toward oversold, while a low ADX indicates that the trend lacks strength, suggesting traders may see choppy movements in the near term. With the stock trading between the 200-day SMA (support) and the 100-day SMA (resistance), this narrow range could either lead to a breakout or continuation of the current consolidation. MACD currently sits in negative territory, adding to the bearish tone, though a crossover could signal a bullish reversal if price action aligns. Additionally, the Awesome Oscillator remains positive, slightly leaning bullish but still non-committal.

Key pivot levels suggest resistance around 2062.88 and 2177.52, with support around 1804.33 and further down at 1660.42. The Classic and Fibonacci pivots give similar outlooks, reinforcing that a move below the 1900 level could invite increased selling pressure. If the stock holds above the Ichimoku Base Line of 1902.03, a bounce is possible, but continued failure to reclaim higher levels could drive the price toward the support range. For those looking to trade, waiting for more trend confirmation or an increase in volume would help validate any potential breakout or breakdown.