Firstsource Solutions Limited (FSL) Stock - Complete Technical Analysis - Nov 29, 2024

Firstsource Solutions (FSL) Stock Technical Analysis: Key Support & Resistance Levels NSE Stocks

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. The stock of Firstsource Solutions Limited (FSL) is trading at 366.70, a solid performance, sitting 6.18% below its 52-week high. It shows a great recovery, being up 116.66% from its 52-week low. Recent price action has shown FSL near resistance levels, with the most recent high of 373.50 acting as a key resistance point. The price closed at 366.7, and it is expected to either consolidate at this level or face a brief pullback.

FSLs technical indicators suggest that the stock is currently experiencing moderate bullish momentum. The ADX is above 30, indicating the presence of a strong trend. The RSI is nearing the 60 mark, suggesting a neutral to slightly bullish sentiment. Additionally, the MACD line remains above the signal line, reinforcing positive momentum. The Stochastic RSI, however, is showing overbought territory, signaling potential resistance.

The 10-day and 20-day EMAs are offering short-term resistance near the 356-357 level, while the 50-day EMA near 337 is a solid support zone. The Hull moving average is right around the current price of 367.8, providing additional support in the near term. The ATR is around 60, indicating moderate volatility, so traders should be prepared for some fluctuations.

Key support zones lie around 358 and 352, with the 337 level serving as a deeper support area if the price experiences a more substantial correction. If the stock breaks above the resistance levels around 373.50, it could rally toward the next resistance near 420. Traders should look for opportunities within these ranges, using tight stop-loss orders to mitigate risk during price swings.