Swaraj Engines Limited (SWARAJENG) Stock - Complete Technical Analysis - Aug 30, 2024

Swaraj Engines Technical Analysis: Bullish Trends

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. Let's dive into the technical analysis for Swaraj Engines Limited, or SWARAJENG. As of the latest data, the stock is trading at approximately 3405, which is about 1.87% below its 52-week high of 3470, and 77.50% above its 52-week low of 1918.

Starting with support and resistance levels, we see that the classic pivot point is at 3034.45, with resistance levels at 3313.15, 3478.70, and 3922.95, while support levels are at 2868.90, 2590.20, and 2145.95. For the Camarilla pivot points, the primary pivot is also at 3034.45, with resistance at 3188.32, 3229.05, and 3269.77, and support at 3106.88, 3066.15, and 3025.43. The Fibonacci pivot points align with the classic pivot, setting resistance at 3204.15, 3309.00, and 3478.70, and support at 2864.75, 2759.90, and 2590.20. Woodie pivots place the primary pivot at 3070.44, with resistance at 3385.13, 3514.69, and 3829.38, and support at 2940.88, 2626.19, and 2496.63.

In terms of moving averages, the stock is above all significant moving averages, indicating a strong bullish trend. The Exponential Moving Averages (EMA) range from 2583.07 at the 200-day EMA to 3437.63 at the Hull Moving Average. The Simple Moving Averages (SMA) also show a similar bullish pattern, with the 200-day SMA at 2532.12 and the 10-day SMA at 3203.45.

Technical indicators paint a robust bullish picture. The MACD is positive, suggesting strong momentum. The Relative Strength Index (RSI) is in the overbought territory, which could indicate that the stock may be due for a pullback. The Stochastic Oscillator and Stochastic RSI are both in the overbought zone, reinforcing the possibility of a near-term pullback. The Average Directional Index (ADX) is above 25, indicating a strong trend. The Awesome Oscillator and Bull Bear Power both suggest strong upward momentum.

Overall, while the technical indicators and moving averages suggest a strong bullish trend, the overbought conditions in the RSI and Stochastic indicators could signal a potential short-term correction. Traders should watch for any pullback towards support levels for possible buying opportunities, especially if the stock holds above its key moving averages.