Syngene International Limited (SYNGENE) Stock - Complete Technical Analysis - Nov 29, 2024

Syngene International Stock Analysis: Key Levels to Watch for Potential Breakouts

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. Syngene International Limited (SYNGENE) is trading around 940, just below its 52-week high, which indicates solid growth potential. The stock has been resilient over the past few days, holding above key support levels of around 916.90, with the latest high at 943.55. Key technical indicators, such as the MACD and Momentum, suggest strong upward movement, with the RSI indicating that the stock is not yet overbought. However, the ADX value suggests a moderate trend strength, which implies that the stock might face short-term fluctuations, especially considering the rising ATR value that signals increased volatility.

Support is observed in the 916-920 range, with the potential for further upward movement if the stock breaks through the 945 resistance. If the stock surpasses 950, it may aim for the 1030 levels. Traders should also keep an eye on the short-term price action for potential entry points, particularly near 900-875 levels, should a pullback occur. While the outlook remains positive for Syngene, caution should be exercised due to possible reversals given the heightened volatility.