Rossari Biotech Limited (ROSSARI) Stock - Complete Technical Analysis - Sep 11, 2024

Rossari Biotech Stock Analysis: Key Levels & Trend Insights NSE Stock Review

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. Rossari Biotech Limited (ROSSARI) is currently trading at 893.20, showing a notable decline of 7.54% from its 52-week high of 966.0 and a substantial increase of 35.96% from its 52-week low of 656.95. The stock is in a crucial phase of indecision, as indicated by today's Spinning Top candlestick pattern, reflecting market uncertainty.

The Average Directional Index (ADX) at 25.17 suggests that the stock is in a moderately strong trend. The Relative Strength Index (RSI) is at 52.04, pointing to a neutral momentum, while the Stochastic %K and Stochastic RSI Fast indicate oversold conditions. The MACD level is positive, suggesting bullish momentum, although it's essential to watch for any potential reversals.

Key moving averages are close to the current price, with the Exponential Moving Averages (EMA) and Simple Moving Averages (SMA) indicating mixed signals. The EMA(10) and SMA(10) are at similar levels, around 891.71 and 888.98, respectively. This proximity suggests that the stock is at a critical juncture, potentially setting the stage for either support or resistance.

Support levels are around 868.3, as indicated by the Camarilla Pivot S1, and the major support level could be near 800.88 based on the EMA(200). Resistance levels include the Camarilla Pivot R2 at 906.24 and the Fibonacci Pivot R1 at 944.36. Given the current price is near the pivot point, traders should watch for breakout or breakdown signals.

In summary, Rossari Biotech is at a pivotal point with current technical indicators suggesting both potential for upward momentum and the risk of a pullback. Traders should stay alert for any changes in trend direction and consider the support and resistance levels in their trading strategies.