Puravankara Limited (PURVA) Stock - Complete Technical Analysis - Sep 10, 2024

Puravankara Limited Stock Analysis: Key Support & Resistance Levels for September 2024

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. Puravankara Limited is currently trading at 439, which is 18.77% below its 52-week high of 569.6, reached on July 3, 2024. On the other hand, it remains a significant 339.62% above its 52-week low of 105.25, observed on September 21, 2023.

The key resistance levels for Puravankara are around the 455 to 470 range. This range is critical as it aligns with various moving averages and technical indicators that have previously acted as resistance. If the stock can overcome this resistance, it might test higher levels around 500 or even beyond.

On the support side, the stock shows crucial support near 430 to 445. This level is consistent with recent pivot points and moving averages. A drop below this support zone could indicate further weakness, with potential additional support emerging around the 410 to 420 range.

Technical indicators reveal a bearish outlook at the moment. The MACD is showing negative momentum, and the RSI is below neutral, suggesting that the stock may be in a downtrend. The Stochastic and Stochastic RSI are also indicating oversold conditions, which might suggest a potential for a short-term rebound. The Commodity Channel Index and Awesome Oscillator further reinforce the bearish sentiment, while the Ultimate Oscillator shows a neutral stance. The Williams Percent Range suggests that the stock is heavily oversold, which could potentially lead to a corrective bounce.

In summary, Puravankara Limited is currently facing resistance near the 455 to 470 range and has support around 430 to 445. Traders should watch these levels closely, as a break above resistance could signal a bullish trend, while a drop below support might indicate further declines.