ZYDUSLIFE is at a critical stage testing the 50 DMA and RSI 40 levles. Will it hold the support? The technical structure on this daily chart indicates rather a dim picture, though we don’t have a clear confirmation. Its relative performance to CNX 500 has been poor since the beginning of April, 2024. On the momentum front RSI has been diverging from price rise since mid-Feb, and as a Head & Shoulder top was forming RSI has been making lower-highs and lower-lows and is currently sitting near 40 support. Price breached the neckline of the H&S top and is testing 50 DMA.
A breach below 50 DMA by price, 40 level by RSI can see some strong move further down in the counter.
No recommendation. Only analysis. Pl. consult your Financial advisor for any investment or trading decision.
A breach below 50 DMA by price, 40 level by RSI can see some strong move further down in the counter.
No recommendation. Only analysis. Pl. consult your Financial advisor for any investment or trading decision.
Raju KMS Datla