Stylam Industries Limited (STYLAMIND) Stock - Complete Technical Analysis - Dec 06, 2024

Stylam Industries Stock Analysis: Key Support & Resistance Levels for Traders

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.

Stylam Industries is trading at 2,493, about 8.82% below its 52-week high, reflecting a cooling-off period after a robust rally. A "Shooting Star" pattern underscores bearish pressures, with resistance at 2,544 proving challenging to surpass. RSI at 57 aligns with a neutral zone, while MACD signals remain favorable, pointing to underlying strength. The ADX at 32 indicates a trend still intact but not overly strong.

Short-term EMAs are converging near the current price, suggesting indecision, while the 200-day EMA at 1,989 and the 100-day SMA at 2,134 underline strong long-term support. Momentum indicators like Stochastic and the Williams Percent Range suggest a pullback could occur if buyers fail to reclaim resistance zones. Traders should watch the lower support near 2,450, as a breakdown could trigger further downside. Conversely, sustained buying above 2,544 could open the path to testing the next resistance at 2,600. Volatility as per ATR demands well-placed stop-losses to mitigate risks.