Piramal Pharma Limited (PPLPHARMA) Stock - Complete Technical Analysis - Dec 16, 2024

Piramal Pharma Stock Analysis: Key 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.

Piramal Pharma Limited (PPLPHARMA) is showing consolidation with support near 245, as the stock has been holding steady. The MACD is slightly positive, signaling a potential uptrend, while the RSI indicates neutral conditions, leaving room for either upward or downward movement. The stochastic indicators show the stock is nearing oversold territory, suggesting the possibility of a reversal to the upside. However, there is some selling pressure as indicated by the Awesome Oscillator and Williams Percent Range, which means a break above the 260 resistance level is needed for confirmation of a bullish trend. The stock is supported by the 50-day simple moving average at around 249, with further support at 245. A breakout above 260 could lead the stock to test the next resistance zone near 270. On the downside, if the stock falls below 245, it could head toward 240. Traders should keep an eye on volume and price action to assess the likelihood of a breakout or a breakdown from the current range.