Deepak Nitrite Limited (DEEPAKNTR) Stock - Complete Technical Analysis - Nov 29, 2024

Deepak Nitrite Technical Analysis: Support, Resistance & Volatility Insights DEEPAKNTR Stock Revi

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. Analyzing Deepak Nitrite Limited (DEEPAKNTR), we see a stock that is currently trading at 2,727, about 13.94% below its 52-week high and 34.95% above its 52-week low. The stock has been moving within a narrow range between 2,700 and 2,740 in the last few trading sessions, showing mild consolidation. On November 29th, it surged to 2,740 before closing at 2,727, indicating some resistance around the 2,740 level.

Looking at the indicators, RSI stands at 52, indicating neutral momentum. The Stochastic oscillator is in the overbought zone, suggesting the possibility of a short-term pullback. Meanwhile, MACD is showing negative momentum, but it's approaching the zero line, hinting at a potential bullish crossover.

In terms of support and resistance levels, key support can be found at 2,700 and 2,685, with resistance at 2,740 and 2,800. Volatility, as seen in the ATR values, suggests the stock may experience some price swings in the near future, so traders should be alert for sudden price movements.

In summary, if the stock breaks above 2,740, it could see further upside towards 2,800 and beyond. However, if it fails to break this resistance, a pullback to support levels may occur.