NETWEB 1 Hour View

NETWEB is trading at ₹4,216.00, reflecting a 3.79% increase from the previous close.

📈 1-Hour Technical Analysis (as of 10:43 AM IST)

Based on intraday data, here are the key technical indicators for NETWEB on the 1-hour timeframe:

Relative Strength Index (RSI): 81.37 — indicates the stock is in the overbought zone, suggesting potential for a short-term pullback.

Moving Average Convergence Divergence (MACD): 395.90 — confirms a strong bullish momentum.

Average Directional Index (ADX): 60.55 — suggests a strong trend in the market.

Stochastic Oscillator: 89.93 — indicates the stock is in the overbought zone.

Super Trend: ₹3,386.37 — supports the current upward movement .

Williams %R: -4.50 — suggests the stock is in the overbought zone.

🔄 Support & Resistance Levels

According to pivot point analysis, the key support and resistance levels for NETWEB are:

Support Levels: ₹4,021.26 (S1), ₹4,088.63 (S2), ₹4,153.76 (S3).

Resistance Levels: ₹4,221.13 (R1), ₹4,286.26 (R2), ₹4,353.63 (R3).

The current price of ₹4,216.00 is near the R1 resistance level, indicating potential for a breakout if the price surpasses this level.

📊 Trend Analysis

The stock is exhibiting strong bullish indicators across multiple timeframes, including the 1-hour chart. The RSI, MACD, and ADX all suggest a continuation of the upward trend. However, the overbought conditions indicated by the RSI, Stochastic Oscillator, and Williams %R suggest that traders should be cautious of potential short-term pullbacks.