Sarveshwar Foods Limited (SARVESHWAR) Stock - Complete Technical Analysis - Sep 13, 2024

Sarveshwar Foods Ltd Technical Analysis: Key Support, Resistance & Trends to Watch

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 of Sarveshwar Foods Limited (SARVESHWAR). Currently trading at 10.0, this stock has shown a remarkable 150.50% increase from its 52-week low of 4.0, but is down 35.56% from its 52-week high of 15.55.

Support and Resistance Levels:

Support Levels: The key support levels to watch are around 8.5 and 7.64. If the stock falls below these levels, further support might be tested near the 6.77 mark.

Resistance Levels: Resistance is likely to be encountered around 10.42 and 11.81. If the stock breaks these levels, it could potentially rise further towards 15.55.

Technical Indicators:

MACD: The MACD is showing a positive trend, indicating bullish momentum.

RSI: The RSI is currently at a neutral 55.93, suggesting the stock is neither overbought nor oversold.

ADX: The ADX value of 26.66 indicates a strong trend, with momentum favoring the current direction.

Stochastic Indicators: The Stochastic %K is at 55.44, while the Stochastic RSI Fast is at 58.43, both pointing towards a neutral to bullish sentiment.

Moving Averages: The stock is currently above the 10-day EMA of 10.03 and the 20-day SMA of 9.32, indicating short-term bullish momentum. However, it remains below the 200-day EMA of 8.4, suggesting a longer-term bearish trend.

Ichimoku Base Line: The Ichimoku Base Line is at 10.35, showing that the stock is currently trading below this level, which could act as a resistance.

Chart Patterns and Observations: The stock's current price suggests that it is in a transitional phase. Given the recent volatility in the ATR, traders should watch for potential breakouts or breakdowns from current levels. The Awesome Oscillator at 1.62 and the Commodity Channel Index at 70.64 both signal bullish tendencies, while the Williams Percent Range at -58.55 indicates a possible overbought condition.

Overall, Sarveshwar Foods Limited is in a phase where careful monitoring is essential. With its current technical indicators showing mixed signals, traders should be cautious and watch for confirmation from breakout or breakdown patterns.