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CONCORDBIO - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 3.1
| Stock Code | CONCORDBIO | Market Cap | 11,665 Cr. | Current Price | 1,115 ₹ | High / Low | 2,452 ₹ |
| Stock P/E | 36.2 | Book Value | 174 ₹ | Dividend Yield | 0.94 % | ROCE | 28.4 % |
| ROE | 21.4 % | Face Value | 1.00 ₹ | DMA 50 | 1,336 ₹ | DMA 200 | 1,542 ₹ |
| Chg in FII Hold | -0.45 % | Chg in DII Hold | 0.03 % | PAT Qtr | 62.9 Cr. | PAT Prev Qtr | 42.6 Cr. |
| RSI | 23.3 | MACD | -50.7 | Volume | 54,759 | Avg Vol 1Wk | 1,17,322 |
| Low price | 1,100 ₹ | High price | 2,452 ₹ | PEG Ratio | 1.35 | Debt to equity | 0.00 |
| 52w Index | 1.11 % | Qtr Profit Var | -36.3 % | EPS | 30.7 ₹ | Industry PE | 29.1 |
📊 Technical Analysis
- Chart Patterns: CONCORDBIO has sharply corrected from 2,452 ₹ to near 1,115 ₹, forming a strong downtrend channel.
- Moving Averages: Current price (1,115 ₹) is below both 50 DMA (1,336 ₹) and 200 DMA (1,542 ₹), confirming bearish momentum.
- RSI: At 23.3, the stock is in oversold territory, suggesting potential for a short-term bounce.
- MACD: Strongly negative (-50.7), reinforcing bearish sentiment.
- Bollinger Bands: Price is near the lower band, indicating oversold conditions and possible mean reversion.
- Volume Trends: Current volume (54,759) is significantly lower than 1-week average (1,17,322), showing weak participation and lack of strong buying interest.
📈 Momentum & Signals
- Short-Term Momentum: Weak, but oversold RSI may trigger a relief rally.
- Support Zones: 1,100–1,120 ₹ (critical support), 1,050 ₹ (psychological support).
- Resistance Zones: 1,336 ₹ (50 DMA), 1,542 ₹ (200 DMA).
- Optimal Entry: Around 1,100–1,120 ₹ if support holds.
- Optimal Exit: 1,330–1,350 ₹ range, unless reversal strengthens above 1,542 ₹.
- Trend Status: Stock is trending downward with oversold signals; possible consolidation before reversal attempt.
✅ Positive
- Debt-free balance sheet (Debt-to-equity 0.00).
- Strong EPS (30.7 ₹) and healthy ROCE (28.4%).
- PEG ratio of 1.35 indicates fair valuation relative to growth.
- PAT improved from 42.6 Cr. to 62.9 Cr. in recent quarter.
⚠️ Limitation
- Stock has corrected sharply from 2,452 ₹ to near 1,115 ₹, eroding investor confidence.
- Quarterly profit variation (-36.3%) highlights earnings volatility.
- Trading below both 50 DMA and 200 DMA confirms bearish technical structure.
- Low dividend yield (0.94%) offers limited income support.
📉 Company Negative News
- FII holdings declined (-0.45%), showing reduced foreign investor interest.
- Sharp fall in quarterly profit variation (-36.3%) raises concerns about earnings stability.
📈 Company Positive News
- PAT improved significantly from 42.6 Cr. to 62.9 Cr. in recent quarter.
- DII holdings increased slightly (+0.03%), showing domestic support.
- Debt-free status strengthens financial resilience.
🏭 Industry
- Industry P/E is 29.1, lower than CONCORDBIO’s 36.2, suggesting relative overvaluation.
- Biopharma sector remains growth-oriented but cyclical, with high sensitivity to R&D outcomes and regulatory approvals.
📝 Conclusion
- CONCORDBIO is fundamentally strong but technically weak in the short term.
- Stock is oversold and may see a relief rally if support near 1,100 ₹ holds