ERIS - Technical Analysis with Chart Patterns & Indicators

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

Technical Rating: 3.2

Here’s a detailed technical analysis of Eris Lifesciences Ltd (ERIS)

📉 Trend Analysis

Current Price (₹1,638) is below the 50-DMA (₹1,715) but above the 200-DMA (₹1,535) — indicating a short-term bearish bias but long-term support remains intact.

52-week Index at 66.5% shows the stock is trading in the upper-middle range of its yearly band (₹1,097–₹1,910).

Trend Status: Reversing — recent breakdown below 50-DMA and weak momentum suggest a short-term downtrend.

🔍 Momentum Indicators

RSI (28.9): Deep in oversold territory, signaling potential for a technical bounce.

MACD (-25.8): Strongly negative, confirming bearish momentum.

Volume: Current volume (4.03L) is above 1-week average (2.95L) — suggests panic selling or capitulation, often preceding a reversal.

📊 Chart Patterns & Moving Averages

Bearish crossover: Price falling below 50-DMA with MACD divergence.

Support Levels

₹1,535 (200-DMA)

₹1,500 (psychological and historical support)

Resistance Levels

₹1,715 (50-DMA)

₹1,800 (recent swing high)

📉 Bollinger Bands

Price is near the lower band, indicating oversold conditions.

Bands are expanding, suggesting increased volatility and potential for a sharp move.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Entry 1,530–1,560 Near 200-DMA and oversold RSI

Exit (Short-Term) 1,715–1,750 Resistance zone, 50-DMA ceiling

Stop Loss 1,490 Below key support and trendline

🧭 Summary

Trend: Short-term reversal, long-term support intact

Momentum: Bearish but oversold

Volatility: High, with potential for bounce

Ideal Strategy: Watch for reversal signals near ₹1,530–₹1,560. Avoid aggressive buying until MACD flattens and RSI rebounds above 35.

Let me know if you'd like a visual chart or a backtest of this setup over recent quarters!

Sources

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1

stockpricearchive.com

2

trendlyne.com

3

www.stocks-buy.com

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