Data Patterns (India) Limited (DATAPATTNS) Stock - Complete Technical Analysis - Nov 21, 2024

Technical Analysis of Data Patterns Stock Support, Resistance, MACD, RSI & More DATAPATTNS Part

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. Data Patterns (India) Limited (DATAPATTNS) stock currently trades at 2,299, well below its 52-week high of 3,655 and comfortably above its 52-week low of 1,751. This positions the stock in a mid-range, showing potential for both upside and downside movements. In recent days, the stock has seen fluctuations between 2,172 and 2,324, indicating increased volatility. With a current close of 2,299, its essential to monitor the support and resistance levels for any signs of price direction.

Key technical indicators paint a mixed picture. The RSI is sitting at 48, indicating neither an overbought nor oversold condition. The MACD shows a negative value, suggesting a weak short-term trend, while the Stochastic RSI at 50 implies that the stock could go either way. The ADX is at 18, confirming that the stock is in a weak trend phase.

From a price action perspective, support appears to be at the 2,170 to 2,180 levels, with resistance at 2,300-2,325. The EMA and SMA charts reflect bearish pressure as the stock is trading below most short-term averages, which means there could be downward pressure if the 2,170 support level breaks. However, long-term traders might find this an interesting entry point once the stock begins showing signs of stabilization or upward momentum.

With the stocks P/E ratio at 69.5, its on the higher end, suggesting the stock is relatively expensive for long-term investors, though the solid ROCE of 19.7% indicates strong operational efficiency. Traders should watch closely for breakout opportunities above 2,325 or breakdowns below 2,170 to make actionable decisions.