Nuvama Wealth Management Limited (NUVAMA) Stock - Complete Technical Analysis - Nov 29, 2024

Nuvama Wealth Management Stock Analysis: Trends, Resistance & Support Levels Explained

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.

Nuvama Wealth Management Limited's current price of 6565 shows a 12.34 percent decline from its 52-week high but an impressive 113.16 percent increase from its 52-week low, highlighting significant upward momentum over the year. The stock's technical indicators reveal a period of consolidation, with a neutral RSI of 46 and bearish MACD divergence. The ADX indicates weak trend strength, signaling the stock may continue sideways in the near term.

Short-term resistance is marked at 6670, supported by classic pivots and moving average convergence. A breach above this could initiate bullish movement, targeting levels closer to the SMA30 and Ichimoku resistance. Conversely, support lies around 6480, providing a cushion for potential pullbacks. Price trends over the last five days show a series of lower highs, pointing toward bearish sentiment but within a constrained range, reflecting investor indecision. Observations of price gaps and volatility further emphasize the importance of breakout levels for future price action.