GMM Pfaudler Limited (GMMPFAUDLR) Stock - Complete Technical Analysis - Sep 10, 2024

GMM Pfaudler Stock Analysis: Key Support & Resistance Levels Explained 🈠Partha Kuchana - Finan

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.

Technical Analysis of GMM Pfaudler Limited (GMMPFAUDLR)

GMM Pfaudler Limited is currently trading at 1426.35, which is about 24.85% below its 52-week high of 1897.95, and 24.78% above its 52-week low of 1143.10. This stock exhibits a complex technical profile, providing valuable insights for traders.

Support and Resistance Levels:

Support Levels: The primary support level is around 1247.60, which corresponds to Classic Pivot S1. Other support zones include Fibonacci Pivot S1 at 1287.78 and Camarilla Pivot S1 at 1346.61.

Resistance Levels: Key resistance levels are 1512.05, as indicated by Classic Pivot R1, and 1443.57 by Camarilla Pivot R3. Fibonacci Pivot R1 stands at 1489.82, marking another significant resistance.

Technical Indicators:

Moving Averages: The stock is trading above its shorter-term exponential and simple moving averages, suggesting a bullish trend. The Exponential Moving Averages (10, 20, 30) are below the current price, while the longer-term (50, 100, 200) are above, indicating potential resistance around these levels.

MACD: The MACD line is currently above its signal line, showing bullish momentum.

RSI: The RSI is in the neutral zone, indicating neither overbought nor oversold conditions.

ADX: The ADX is above 30, suggesting a strong trend. The direction of the trend should be monitored closely.

Chart Patterns:

Inside Candle Pattern: An inside candle pattern was observed on September 9, 2024, with a high of 1445.65 and a low of 1394.45. This indicates potential consolidation within this range, and future price movement will be crucial in confirming the breakout direction.

Volatility:

ATR: The Average True Range is high, reflecting significant price volatility. This could indicate large price swings in the near term.

Summary: GMM Pfaudler Limited shows a bullish trend with significant resistance at higher levels. Traders should watch for potential breakout points around the key resistance levels and monitor support levels for possible price corrections. The inside candle pattern suggests consolidation, and high volatility implies caution.