Anupam Rasayan India Limited (ANURAS) Stock - Complete Technical Analysis - Sep 06, 2024

Anupam Rasayan Stock Analysis: Bearish Trend

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.

Anupam Rasayan India Limited (ANURAS) is currently trading at 763, showing signs of bearish momentum as indicated by key technical indicators. The RSI reflects that the stock is in a downtrend and approaching oversold territory, while the Stochastic indicators confirm this, suggesting a potential reversal if oversold conditions persist. The MACD is negative, reinforcing the bearish sentiment.

The stock is trading below key moving averages, such as the 50-day and 100-day EMAs, indicating short-term and long-term weakness. Strong support is observed around the 730-740 range, which could act as a potential rebound zone. Resistance levels are positioned near the 800-820 range, where the stock may face selling pressure if it attempts to move higher. The ADX indicates a weakening trend, and the Awesome Oscillator and Williams Percent Range further confirm the bearish momentum.

Traders should watch for a potential bounce at support levels, but caution is advised as momentum indicators like Bull Bear Power and the Commodity Channel Index signal continued weakness. A break below key support levels could lead to further downside.