INDGN - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 3.0

Let’s unravel the technical setup for Indigenous Geneomics (INDGN) and map its current chart tone along with actionable trade levels

📉 Trend Overview

Current Price ₹549 is trading below both 50-DMA (₹572) and 200-DMA (₹584) → indicative of short-term and medium-term weakness.

From its high of ₹737, the stock has dropped nearly 25%, hinting at a gradual downtrend phase, but holding above its recent low of ₹485.

🧭 Trend Status: Trending downward with signs of base formation, fueled by solid FII interest and moderate earnings growth.

🔁 Momentum Indicators

RSI (38.4): Approaching oversold zone → potential for a short-term bounce but lacks confirmation.

MACD (-7.03): Deep negative territory → underlines bearish momentum still intact.

Volume (2.88L) vs Avg Vol (3.76L): Weak turnover → traders showing caution, a sign of consolidation efforts.

📊 Bollinger Bands

Likely trading near the lower band, amplifying oversold signals.

No notable band contraction; expect volatility to stay subdued unless volume picks up sharply.

📐 Support & Resistance Matrix

Zone Type Price Range (₹) Commentary

Support 535 – 550 Current base zone with RSI and MACD convergence hints

Resistance 570 – 584 DMA resistance stack – key turning zone

Breakout Zone 590+ Break above moving averages → trend flip confirmation

🎯 Trade Strategy

Entry Zone: ₹540–₹550 (support play + oversold bounce setup)

Exit Zone: ₹570–₹584 (potential rejection zone from DMAs)

Stop Loss: ₹530 (below current support and recent pivot lows)

🔍 Conclusion

INDGN is consolidating within a weak downtrend, supported marginally by improving fundamentals and institutional interest.

Watch for a volume-driven MACD flattening or RSI divergence to signal a more reliable reversal.

A decisive break above ₹590 could unlock fresh upside toward ₹610–₹630.

Want to pair this setup against mid-cap pharma players or biotech stocks for relative momentum analysis? I can line up a chart comparison to see who’s showing early breakout potential 🧪📊

Edit in a page