Sandhar Technologies Limited (SANDHAR) Stock - Complete Technical Analysis - Dec 20, 2024

Sandhar Technologies Technical Analysis Price Trends, Support & Resistance Levels

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Sandhar Technologies Limited (SANDHAR) stock has shown recent signs of volatility, with a current trading price of 551.10, which is about 21% below its 52-week high, suggesting that there is room for potential growth. The stock's recent price movements reveal two bullish patterns: the "Bullish Engulfing" and "Morning Star" patterns, both of which suggest that the stock is currently in a phase of reversal and could see upward movement in the short-term.

The Relative Strength Index (RSI) is currently at 52.54, indicating that the stock is neutral, neither overbought nor oversold, which implies that it still has room to move higher. The Average Directional Index (ADX) at 19.3 shows that the market lacks a strong directional trend, but this could quickly change if the stock breaks key resistance levels. MACD is also positive, with a level of 5.72, which hints at a possible upward momentum.

The stock is currently supported by the Exponential Moving Averages (EMAs) around the 10-period EMA (550.7) and the 50-period EMA (544.88). Any dip below these levels could signify a bearish trend, while a bounce from these support levels could further solidify the bullish case.

The resistance levels are at the Classic Pivot R1 (564.73) and the Fibonacci Pivot R1 (552.05), indicating that these levels are crucial for confirming a breakout. A move above these resistance levels could signal a breakout, while failure to break above these points could indicate the stock could face a reversal.

With an Average True Range (ATR) indicating volatility around 30 points, traders should remain cautious and watch for any significant price action changes. Overall, SANDHAR is presenting a bullish outlook in the short term, but it is important to confirm breakouts and hold above support levels for sustained upward movement.