Shares of Eveready Industries have been showing signs of strength on the charts, with technical indicators pointing to a bullish short-term trend.
SEBI-registered research analyst Deepak Pal shared his view, highlighting a constructive chart setup supported by technical signals.
Pal noted that Eveready recently formed a bullish candle on the daily chart and closed above its 14-day and 55-day exponential moving averages (EMAs), a sign of upward momentum.
The stock made a low of ₹310.25 on July 1 and has since seen continued buying. Pal said the stock was holding firmly above its 14-day and 55-day EMAs, showing price strength.
He added that the Parabolic stop and reverse dots have shifted below the price, indicating a short-term trend reversal.
The moving average convergence divergence (MACD) is in mildly positive territory and attempting a crossover, while the relative strength index (RSI) stands around 57.28, still below the overbought zone.
Given this setup, Pal said dips could offer buying opportunities, with ₹315 as a suggested stop-loss. On the upside, he pegged resistance at ₹340 to ₹345 in the near term.
On Stocktwits, retail sentiment for Eveready was ‘neutral’ amid ‘normal’ message volume.
The stock has declined 18% so far in 2025.
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