Zydus Wellness Limited (ZYDUSWELL) Stock - Complete Technical Analysis - Dec 17, 2024

Zydus Wellness Stock Analysis: Price Trends, Support & Resistance Levels ZYDUSWELL Technical Insi

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. Zydus Wellness Ltd. (ZYDUSWELL) is currently trading at 2,044.60, down 17.69% from its 52-week high and up 41.97% from its 52-week low. The stock has been showing upward movement recently, indicating positive momentum. Key technical indicators suggest a neutral to slightly bullish outlook.

Looking at the price action, the stock has demonstrated resilience with a series of higher highs and higher lows in recent trading sessions. The December 16 close at 2,044.60 showed a brief surge to 2,066, but the stock faces resistance near 2,100-2,110. A break above this resistance could drive the stock higher towards 2,190 or beyond. On the other hand, if the stock struggles to break through this resistance, it could consolidate or pull back toward support levels around 2,010-2,020.

The RSI stands at 55.56, indicating that the stock is neither overbought nor oversold, giving room for movement in either direction. The MACD is currently positive, supporting the bullish bias. The Exponential Moving Averages (EMA) are also in favor of a short-term bullish trend, with the 10-day and 20-day EMAs above the 50-day EMA.

Support lies around 2,010-2,020, with a potential pullback to the 50-day EMA at 2,000 if the price falls below this range. Volatility is relatively high, with the Average True Range (ATR) above 200, suggesting potential for significant price movements. Traders should stay alert for sudden price surges or drops, especially around the 2,100 resistance level.

Overall, Zydus Wellness appears to be in a bullish phase, but key resistance levels need to be broken for further upside. Keep an eye on the support levels and ATR to gauge the strength of the trend and prepare for any potential reversals.