Venus Pipes & Tubes Limited (VENUSPIPES) Stock - Complete Technical Analysis - Dec 05, 2024

Venus Pipes & Tubes Limited Stock Analysis Technical Indicators, Support & Resistance Levels

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. Venus Pipes & Tubes Limited (VENUSPIPES) has been facing volatility, with the current price at 1,649.90. It's about 33% lower than its 52-week high of 2,450.35, showing a significant decline. However, it is also up 27.88% from its 52-week low of 1,290.2, indicating a recovery from the lows.

The MACD remains in negative territory, suggesting bearish momentum, while the RSI is showing signs of weakness, indicating a lack of bullish momentum. Despite the high ADX reading, the trend lacks clear direction, as the stock is caught in a period of indecision, reflected by candlestick patterns like Doji and Spinning Top. These indicate that the market is uncertain, which could either lead to a reversal or continuation of the current trend.

Moving averages (both exponential and simple) confirm that VENUSPIPES is facing downward pressure, with the stock trading below most short-term moving averages. This indicates that the stock could struggle to rise above the current levels without further support. The immediate resistance is at 1,721, while the support level sits around 1,477. A break of these levels could determine the next directional move for the stock.

Traders should watch for any break of the support at 1,477, as this could signal further downside potential, whereas a push above 1,721 would suggest the start of a bullish trend.