CONCORDBIO - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 3.6

Here’s a detailed technical analysis of CONCORDBIO

📊 Trend Overview

Current Trend: Reversing with bearish undertone

Price is below both 50 DMA (₹1,705) and 200 DMA (₹1,758), indicating short- and medium-term weakness.

RSI at 47.6 is in the neutral-to-bearish zone, showing lack of momentum.

MACD at -22.6 confirms bearish crossover and declining momentum.

📈 Technical Indicators

Moving Averages

Price (₹1,670) < 50 DMA (₹1,705) < 200 DMA (₹1,758): Bearish alignment

RSI (47.6)

Below 50, indicating mild selling pressure.

MACD (-22.6)

Strong negative crossover. Momentum is weak and declining.

Bollinger Bands

Price near lower band, suggesting oversold conditions but no reversal confirmation yet.

Volume Trends

Current volume (1.15L) < 1-week average (1.28L): Weak participation

Indicates lack of conviction from buyers.

🔍 Short-Term Momentum Signals

Bearish Bias

Price below key moving averages and negative MACD confirm weakness.

RSI suggests sellers are in control.

Declining quarterly PAT and institutional outflows reinforce caution.

📌 Support & Resistance Zones

Level Price (₹) Commentary

Support 1 1,620 Recent swing low

Support 2 1,580 Psychological support

Resistance 1 1,705 50 DMA, short-term ceiling

Resistance 2 1,758 200 DMA, medium-term barrier

Resistance 3 1,850 Pre-breakdown zone

🎯 Entry & Exit Zones

Optimal Entry: ₹1,620–₹1,670 (on dips near support)

Exit Zone: ₹1,750–₹1,850 (partial profit booking)

Aggressive Target: ₹1,950+ if breakout above 200 DMA sustains

🧭 Summary

Trend: Reversing with bearish momentum

Momentum: Weak, confirmed by MACD, RSI, and volume

Outlook: Cautious; wait for reversal confirmation above ₹1,705

Valuation: High P/E (48.9) vs industry (33.4), strong ROE/ROCE, zero debt, but recent profit decline and technical weakness suggest limited upside in the near term

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