On the technical front, Patanjali Foods share price crash today confirmed a major consolidation breakdown on the daily chart, which was accompanied by a sharp surge in volumes, lending credibility to the bearish move, noted Sudeep Shah – Head of Technical and Derivatives Research at SBI Securities.
“The RSI, which had been moving sideways, has also broken down, indicating strengthening bearish momentum. The DI lines have widened, with DI- positioned well above DI+ on the ADX indicator, highlighting strong seller dominance. Additionally, Patanjali Foods stock is trading significantly below the lower Bollinger Band, reflecting heightened selling pressure,” said Shah.
According to him, the next key support on the downside for Patanjali Foods shares is ₹330–325 zone, and a decisive breach below this level could accelerate the decline towards ₹310 in the short term.
“On the upside, the ₹380 – 385 zone is likely to act as the immediate resistance,” Shah added.
Patanjali Foods Share Price Performance
Patanjali Foods share price has fallen 21% in one month and has declined 28% in three months. The FMCG stock has dropped 38% in six months, while it has plunged 42% over the past one year.
At 12:35 PM, Patanjali Foods share price was trading 17.60% lower at ₹335.90 apiece on the BSE.
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