PVR INOX Limited (PVRINOX) Stock - Complete Technical Analysis - Nov 29, 2024

PVR INOX Stock Technical Analysis Support, Resistance, Trends NSE Stock Insights

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. PVR INOX (PVRINOX) stock, trading at 1,540, is in an interesting position as it faces key support and resistance levels. The stock is currently 15.86% below its 52-week high and 27.89% above its 52-week low. Looking at the technical indicators, there is a clear bullish continuation pattern (Three White Soldiers) suggesting a potential upward trend.

The stock has immediate support around 1,500-1,525, which has held recently. On the upside, resistance is at 1,550-1,575. The RSI is around 55, indicating neutral momentum with room for movement. Despite a bearish MACD, the negative momentum appears to be decreasing, hinting at a possible reversal soon.

The ADX at 23 suggests moderate trend strength. If it rises, it may signal a stronger trend. The Stochastic RSI at 100 indicates the stock is currently overbought, which could lead to a short-term pullback before further gains. Traders should keep an eye on whether the stock can break above resistance levels (1,575) for further upside, or if it will face a correction back towards the support region (1,500-1,525).

In terms of volatility, the ATR is showing signs of increasing price swings, creating potential for short-term trades. Watch for a breakout above resistance or a pullback to support for possible trading opportunities.