Navin Fluorine International Limited (NAVINFLUOR) Stock - Complete Technical Analysis - Nov 21, 2024

Navin Fluorine Technical Analysis Key Levels to Watch & Market Sentiment Partha Kuchana - Financ

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. Navin Fluorine International Limited (NAVINFLUOR), with a current price of 3,262, is showing signs of consolidation after a notable pullback from its 52-week high of 3,979.45. The stock's P/E ratio of 92.9 suggests that it is highly valued compared to its earnings. Technically, the stock is in a mild bearish phase with the RSI at 44.03, indicating it is not yet oversold. However, the MACD remains negative, and the Stochastic RSI also points to weakness in momentum.

In the short term, NAVINFLUOR has established a trading range between 3,250 and 3,350. If the stock manages to break above the resistance near 3,350, it could potentially see an upside towards 3,500. On the other hand, if it fails to hold support around 3,250, a further decline to 3,100 may be possible.

The Average Directional Index (ADX) of 12.63 suggests weak trend strength, indicating that traders should exercise caution in expecting a strong directional move. Given this, traders looking to enter should monitor price action near key levelsespecially the support and resistance zonesto make informed decisions.