The weekly and monthly Moving Average Convergence Divergence (MACD) indicators for Shilpa Medicare currently signal bearish and mildly bearish trends respectively, suggesting a weakening price momentum over both short and medium terms. Meanwhile, the Relative Strength Index (RSI) remains neutral on both weekly and monthly charts, indicating no clear overbought or oversold conditions at present. Bollinger Bands also reflect bearish tendencies on the weekly scale, with a mildly bearish outlook monthly, pointing to increased volatility and potential downward pressure on price.
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Further technical indicators such as the Know Sure Thing (KST) oscillator align with the bearish sentiment on a weekly basis, while showing a mildly bearish stance monthly. The Dow Theory presents a nuanced picture, with a mildly bullish weekly signal contrasting a mildly bearish monthly trend. On-Balance Volume (OBV) readings reveal a mildly bearish weekly trend but a mildly bullish monthly trend, indicating some divergence between price movement and volume flow.
Daily moving averages reinforce the bearish outlook, with the stock price trading below key averages, signalling potential resistance levels. The stock’s intraday range on the latest trading day spanned from ₹362.00 to ₹377.20, within a 52-week range of ₹265.25 to ₹501.60, highlighting a significant gap from its yearly high.
Examining Shilpa Medicare’s returns relative to the Sensex reveals a mixed performance. Over the past week, the stock recorded a decline of 6.91%, contrasting with the Sensex’s 0.96% gain. However, over the last month, Shilpa Medicare posted a 3.05% return, slightly ahead of the Sensex’s 0.86%. Year-to-date figures show a negative return of 9.71% for the stock against an 8.36% gain for the benchmark. Over longer horizons, the stock’s three-year return of 163.64% notably outpaces the Sensex’s 37.31%, while five- and ten-year returns of 73.10% and 42.54% lag behind the Sensex’s 91.65% and 232.28% respectively.
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In summary, Shilpa Medicare’s technical parameters reflect a cautious stance with a shift towards bearish momentum across multiple indicators. While some oscillators and volume-based metrics show mixed signals, the prevailing trend suggests pressure on the stock price in the near term. Investors analysing Shilpa Medicare should consider these technical signals alongside broader market conditions and sectoral dynamics within Pharmaceuticals & Biotechnology.
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