Pidilite Industries Limited (PIDILITIND) Stock - Complete Technical Analysis - Nov 18, 2024

Pidilite Industries Stock Analysis: Is a Reversal Coming Technical Overview

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. Pidilite Industries Limited (PIDILITIND) is experiencing some downward pressure, trading around 3,018, just 11.59% off its 52-week high of 3,415. The stock has shown positive movement recently, sitting 24.72% above its 52-week low of 2,420.85. Technically, the stock is showing neutral to bearish signals, with the RSI near 38, indicating weakness. The MACD is below its signal line, reinforcing this sentiment. The Stochastic RSI and Williams Percent Range are in oversold conditions, suggesting the stock may be due for a rebound, but investors should be cautious of a potential breakdown if it fails to hold the 3,000 support level.

Looking at the past few sessions, the stock has been testing the 3,000 level, with minor price reversals seen during intraday price action. On November 18th, the stock dropped to 3,007 but recovered to close at 3,019. The 200-day EMA at 3,024 could act as the first hurdle, while the 100-day EMA around 3,140 provides additional resistance.

The stock's volatility, reflected in its ATR (Average True Range), remains high, indicating that swift price moves could be possible. Short-term traders should keep a close watch on the 3,000 support level and look for confirmation of a breakout or breakdown. A move above 3,100-3,200 would be bullish, while a breakdown could target 2,900-2,850. Investors should consider waiting for more definitive price action before entering long positions.