Shilpa Medicare Limited (SHILPAMED) Stock - Complete Technical Analysis - Nov 25, 2024

Shilpa Medicare Stock Analysis: Bullish Momentum or Consolidation Ahead Technical Breakdown

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 trading at 902, 6.5% below its recent 52-week high of 959.5. The stock has seen some price action recently with sudden surges and declines. The RSI is in a neutral zone, reflecting balanced buying and selling pressure. The ADX is relatively low, indicating that a strong trend is not yet established. The stock has been fluctuating between the 860-950 range, with resistance near 940-960 and support around 860. Recent volatility, as measured by ATR, suggests that the stock can experience significant swings in both directions.

On the upside, the stock could break past 940-960, signaling further bullish potential. On the downside, the key support zone is near 860, with additional support at around 837. Short-term traders could capitalize on price reversals in this range. The MACD and Stochastic RSI are both suggesting some bullish momentum, but traders should exercise caution and watch for price action near support and resistance levels. Traders can look for a breakout above 940 or a pullback near 860 for potential entry points. Keep an eye on any sudden price moves, as these could signal trading opportunities.