Zydus Lifesciences Limited (ZYDUSLIFE) Stock - Complete Technical Analysis - Nov 27, 2024

Technical Analysis of Zydus Lifesciences: Key Support and Resistance Levels You Must Know

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. Zydus Lifesciences Limited (ZYDUSLIFE) has shown signs of volatility recently, trading at 951, below its 52-week high of 1324.3 and well above its 52-week low of 628.1. The current P/E ratio of 22.0 reflects a fair valuation. The technical indicators show a mixed picture: the RSI is at 37.12, suggesting the stock is oversold and may be due for a reversal. The MACD is negative, indicating a bearish short-term trend, while the Stochastic RSI points to bullish momentum.

Support for the stock is around 950, with stronger support at 944. On the upside, resistance is expected at 971 and 986. The moving averages are showing a bearish short-term outlook, with the 10-day and 20-day EMAs acting as resistance levels. The ATR indicates higher volatility, suggesting that traders should stay cautious and prepared for price fluctuations.

Overall, Zydus Lifesciences could be facing a potential reversal near the support zone, with the key level of 950 being crucial. If the stock manages to break through the resistance at 971, it could head towards higher levels. Investors should monitor the price action closely as the market conditions may shift quickly.