Puravankara Limited (PURVA) Stock - Complete Technical Analysis - Dec 04, 2024

Puravankara Stock Technical Analysis - Price Trends, Support & Resistance PURVA Analysis

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. Puravankara Limited (PURVA) is trading at 417.25, which is currently 26.75% below its 52-week high of 569.6. Despite the bearish MACD signal, the stock is showing signs of a potential recovery from the lows of 158.25. The RSI is in neutral territory at 60.83, suggesting that there is room for further price movement in either direction. For traders, support is found around 383, with resistance near 451.7. The current market conditions show indecision as indicated by the Spinning Top candlestick pattern.

The stocks volatility, measured by the Average True Range (ATR), suggests that the stock is experiencing fluctuating price movements, which could lead to sudden surges or drops. The price action from the past few days shows higher highs and higher lows, signaling an uptrend, but caution is needed with the negative MACD and possible price reversals.

Looking at moving averages, the stock is currently above its 10-day and 20-day exponential moving averages (EMAs), signaling short-term bullishness. The 50-day EMA is at 395.95, while the 200-day EMA provides support around 370.52. A clear break above resistance at 451.7 could signal the beginning of a new bullish phase.

In summary, for short-term traders, keep an eye on key support at 383 and resistance at 451.7. Monitor momentum indicators like the RSI and MACD for confirmation. A pullback to support could offer buying opportunities, while a break above resistance could lead to a new bullish trend. Proper risk management is recommended due to the stock's volatility.