Sadhana Nitrochem Limited (SADHNANIQ) Stock - Complete Technical Analysis - Sep 13, 2024

Sadhana Nitrochem Limited (SADHNANIQ) Stock Analysis: Key Technical Indicators & 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.

Welcome to our technical analysis of Sadhana Nitrochem Limited (SADHNANIQ).

Currently trading at 71.6, SADHNANIQ is approximately 15.34% below its 52-week high of 84.62 and 89.67% above its 52-week low of 37.77. This stock is showing mixed signals across various technical indicators.

Trend Analysis: The Average Directional Index (ADX) is at 16.5, indicating a weak trend strength. The stock seems to be in a consolidation phase rather than a strong directional trend.

Momentum Indicators: The Relative Strength Index (RSI) is at 43.87, which suggests that the stock is in the neutral zone, neither overbought nor oversold. The Stochastic %K is at 72.3, and the Stochastic RSI Fast is at 65.33, hinting that the stock may be on the verge of a potential upward move or could be experiencing some volatility.

Moving Averages: The Exponential Moving Averages (EMA) across various periods are showing a declining trend with the short-term EMAs below the long-term EMAs, signaling a bearish outlook. The Simple Moving Averages (SMA) also confirm this bearish sentiment with the shorter SMAs below the longer SMAs. The current price is below both the 10-day and 20-day EMAs, indicating resistance at these levels.

Pivot Points: The stock is trading below the Classic Pivot Point, indicating resistance at this level. The stock may find support around the Classic S1 level, which is 68.98, and resistance around the Classic R1 level of 86.55.

Additional Indicators:

The Commodity Channel Index (CCI) is quite low at -220.9, suggesting that the stock is deeply oversold.

The Awesome Oscillator is negative, indicating bearish momentum.

The Williams Percent Range is at -46.71, showing the stock is nearing oversold conditions.

The Ultimate Oscillator is at 50.39, indicating a neutral to slightly bullish sentiment.

Volume Analysis: The Average True Range (ATR) is fluctuating but generally higher, reflecting increased volatility. The Volume Weighted Moving Average (VWMA) is slightly above the current price, suggesting potential resistance.

In summary, SADHNANIQ is currently experiencing a bearish phase with mixed indicators. Traders should watch key levels around the pivot points for potential buy or sell signals and monitor for any changes in momentum indicators.