CONCORD BIOTECH LTD

As of May 30, 2025, Concord Biotech Ltd (NSE: CONCORDBIO) closed at ₹1,748.50, marking a 4.9% increase from the previous close of ₹1,666.90 .

Daily Support and Resistance Levels (Based on Pivot Analysis):

Pivot Point (PP): ₹1,743.97

Resistance Levels:

R1: ₹1,791.88

R2: ₹1,833.77

R3: ₹1,881.68

Support Levels:

S1: ₹1,702.08

S2: ₹1,654.17

S3: ₹1,612.28

These levels are derived from the previous day's trading range and can serve as reference points for intraday trading decisions .

Technical Indicators:

Relative Strength Index (RSI): Over 65, indicating bullish momentum.

MACD: The MACD line has crossed above the signal line, suggesting a potential upward trend.

Volume: An increase in trading volume supports the bullish sentiment.

These indicators suggest that the stock is experiencing positive momentum, but it's essential to monitor for any changes in trend .

Key Observations:

Short-Term Range: The stock is trading between ₹1,600 (support) and ₹1,800 (resistance). A breakout above ₹1,800 could signal further upside potential.

Recent Performance: The stock has shown a 15.14% increase over the past month, indicating strong short-term performance .

Conclusion:

Concord Biotech Ltd is exhibiting bullish technical indicators with key support at ₹1,600 and resistance at ₹1,800. Traders should watch for a breakout above ₹1,800 for potential upward movement, while also being cautious of any reversal signals.