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Patanjali Foods Limited (PATANJALI) Stock - Complete Technical Analysis - Nov 28, 2024

Patanjali Foods Analysis: Key Support & Resistance Levels Revealed

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.

Patanjali Foods Limited's current price action is hovering just below key resistance at 1800, aligning closely with both the EMA and SMA values, signaling a consolidation phase. RSI at 49 indicates a balanced momentum, and the Stochastic Oscillator's low reading near 19 hints at a potential reversal if buying emerges. The MACD remains in bearish territory, but a crossover would signal bullish momentum.

With ATR showing steady volatility, a sharp move could be on the horizon. If bullish momentum picks up, the next resistance lies around 1870, while downside risks are supported by strong levels at 1750 and 1655. Volume surges and MACD signals should be closely monitored for breakout confirmation. Traders should be prepared for potential swings in either direction, given the current neutral indicators and recent price consolidation.







 

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