The Anup Engineering Limited (ANUP) Stock - Complete Technical Analysis - Sep 11, 2024

The Anup Engineering Stock Analysis: Key Levels & Trends NSE Technical Insights Partha Kuchana

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. Let's analyze The Anup Engineering Limited, which is currently trading at 2,279. The stock is about 5.35% below its 52-week high of 2,408.1 and 136.50% above its 52-week low of 963.75.

In terms of support and resistance levels, the price is approaching significant resistance. The stock has recently shown a pattern where it traded within a narrow range, indicating potential consolidation. Key resistance levels to watch are near the recent highs and pivot points, which are slightly above the current price. If the stock manages to break above these levels, further resistance can be expected around higher pivot and moving average points.

On the support side, the stock has solid backing at lower pivot points and previous support areas. If the price declines, support could be observed around the recent low and classic pivot points. The strong bullish indicators, including a high MACD level and positive Awesome Oscillator, suggest a prevailing uptrend, but the RSI is in the overbought zone, signaling caution.

The ADX indicates a strong trend, suggesting that the current uptrend might continue, but it is essential to watch for any signs of reversal or consolidation. The ATR suggests that the stock is experiencing high volatility, which means traders should be prepared for possible price swings.

In summary, The Anup Engineering Limited is in a strong uptrend with significant resistance levels above. Traders should monitor for potential breakouts or pullbacks around key support and resistance levels.