Shilpa Medicare Limited (SHILPAMED) Stock - Complete Technical Analysis - Nov 14, 2024

Shilpa Medicare Technical Analysis Key Levels, Support & Resistance Insights SHILPAMED Stock Rev

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. Shilpa Medicare Limited (SHILPAMED) is showing promising growth as it trades at 873.25, marking an impressive 178% increase from its 52-week low. However, it is still 8.99% below its 52-week high, suggesting a potential for further gains if bullish momentum persists. The stock's technical indicators indicate a bullish outlook with the RSI sitting comfortably at 55.77, signaling neutral conditions, with room for further price appreciation.

The MACD and Stochastic indicators suggest buying interest could persist, while the stock's price remains above key moving averages, such as the 10-day and 20-day EMAs, further affirming its bullish short-term trend. The ATR, at 140.37, suggests significant price fluctuations ahead, which traders need to factor in for potential volatility.

The support at 754.2 and resistance at 927.0 are crucial levels. A breakout above 900 could lead to further upside, while a drop below 820 might signal a reversal. Watching these levels can provide useful trading signals for both short and long-term traders.