INDRAMEDCO 1 Day Time Frame

Technical Overview:

Overall Signal: Strong Buy

Moving Averages: All moving averages (5, 10, 20, 50, 100, 200) are indicating a Buy signal.

RSI (14): 90.29 – Overbought (indicates strong upward momentum)

MACD: 24.38 – Positive (supports bullish trend)

Stochastic RSI: 95.20 – Overbought (suggests potential for a pullback)

CCI (14): 194.96 – Positive (indicates strong trend strength)

ADX (14): 35.55 – Strong trend (above 25 indicates a strong trend)

ATR (14): 14.44 – High volatility (indicates significant price movement)

Pivot Points:

Resistance Levels: R1: ₹565.46, R2: ₹570.23, R3: ₹577.96

Support Levels: S1: ₹552.96, S2: ₹545.23, S3: ₹540.46

Price Action:

Current Price: ₹559.50

Day Range: ₹475.00 – ₹568.90

Previous Close: ₹478.10

Volume: Approximately 4.5 million shares traded

VWAP: ₹541.59

52-Week High/Low: ₹572.00 / ₹307.25

Summary:

The stock is currently trading near its 52-week high, indicating strong investor confidence. Technical indicators suggest a robust bullish trend, though the overbought conditions (RSI and Stochastic RSI) may imply a potential short-term pullback. Traders should monitor for any signs of reversal or consolidation near resistance levels.