Here's an analysis of the provided stock chart for Jubilant Pharmova Ltd:
1. **Price Movement**: - The stock is currently trading at 854.85 INR, up by 9.75 INR (+1.15%). - The stock experienced a significant upward movement with a large green candlestick, indicating a strong bullish sentiment.
2. **Support and Resistance Levels**: - **Resistance**: Around 859.50 INR. The stock has tested this level multiple times but has not yet broken through. - **Support**: Around 787.11 INR. This is a previous resistance level that now acts as support.
3. **Moving Averages**: - **EMA (20)**: The stock is trading above the 20-day Exponential Moving Average (EMA), indicating an upward trend.
4. **Volume**: - There was a significant increase in volume during the large upward movement, which suggests strong buying interest.
5. **RSI (Relative Strength Index)**: - The RSI is around 71.41, which is above the 70 mark, indicating that the stock might be overbought and could be due for a correction.
Key Takeaways: - The stock is in a strong uptrend but faces resistance around 859.50 INR. - The increase in volume during the upward movement suggests strong buying interest. - The RSI indicates that the stock might be overbought, so a short-term correction could be possible.
Possible Actions: - If you are holding the stock**: Consider watching for a breakout above the 859.50 INR resistance level for further gains or a potential pullback to the 787.11 INR support level for adding more. - **If you are looking to buy**: It might be prudent to wait for a pullback to the support level or a confirmed breakout above the resistance level.
Always consider your investment strategy and risk tolerance before making any trading decisions.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.