Shriram Properties Limited (SHRIRAMPPS) Stock - Complete Technical Analysis - Sep 13, 2024

"Shriram Properties Stock Analysis: Key Support, Resistance & Trend Insights"

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.

Heres a detailed technical analysis for Shriram Properties Limited (SHRIRAMPPS). The stock is currently trading at 133, which is around 10% below its 52-week high and approximately 65% above its 52-week low.

The technical indicators provide a mixed picture. The RSI is showing moderate strength, suggesting that the stock is neither overbought nor oversold. The MACD is positive, indicating bullish momentum. However, the Awesome Oscillator and the Williams Percent Range signal some bearish pressure, with the latter showing strong bearish sentiment.

The ADX is relatively high, pointing to a strong trend. Despite this, the stock's recent candlestick patterns, including the Shooting Star, suggest potential bearish reversal, as the price shows signs of exhaustion after a recent uptrend.

Support levels are near recent pivot points, with a classic pivot providing a key support area. Resistance levels are evident around the higher end of recent trading ranges, with a shooting star pattern signaling possible resistance at higher prices.

Moving averages are generally indicating a bullish trend, with the current price above some of the shorter-term moving averages but facing resistance from longer-term averages. The stock's price is also near the Volume Weighted Moving Average, reflecting its average trading level.

The ATR indicates that the stock has been experiencing moderate volatility, which may lead to further price fluctuations. Traders should be cautious of the recent bearish patterns and monitor key support and resistance levels for potential trading opportunities.

In summary, Shriram Properties Limited shows mixed technical signals with a generally bullish outlook, but recent bearish patterns suggest that traders should be cautious and watch for confirmation of the prevailing trend or potential reversals.