Sundram Fasteners Limited (SUNDRMFAST) Stock - Complete Technical Analysis - Sep 18, 2024

Sundram Fasteners Stock Analysis: Key Technical Levels & Market Trends NSE Stock 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. Welcome to our technical analysis of Sundram Fasteners Limited. Currently trading at 1376.55, this stock is showing mixed signals according to various technical indicators.

The stock is currently positioned 8.59% below its 52-week high of 1505.95, and 37.24% above its 52-week low of 1003.05. This range shows that while the stock is relatively strong compared to its low, it's also facing resistance near its recent highs.

In terms of moving averages, the stock is trading close to its 10-day Exponential Moving Average (EMA) of 1376.89, and is slightly above the 20-day EMA of 1371.99. The 50-day and 200-day EMAs suggest an overall uptrend, but the stock has recently approached its short-term Simple Moving Average (SMA) of 1375.61 and is just below its 10-day SMA of 1381.65, indicating some resistance at these levels.

The Average True Range (ATR) shows recent volatility in the range of approximately 128 to 167, suggesting that the stock has been experiencing significant price swings. The stock's Relative Strength Index (RSI) stands at 52.31, indicating that it is neither overbought nor oversold, but is in a neutral position. This could mean potential for either upward or downward movement depending on market conditions.

Chart patterns reveal a Doji and Spinning Top formation, signaling indecision in the market. This implies that traders should watch for a breakout direction to determine the next move. The Average Directional Index (ADX) at 28.76 supports this as it suggests a strong trend but doesn't specify the direction.

The Stochastic %K and Stochastic RSI suggest that the stock is neither in overbought nor oversold conditions, which aligns with the RSI reading. Additionally, the Awesome Oscillator and Commodity Channel Index (CCI) point towards a positive momentum but with caution due to current resistance levels.

In summary, while Sundram Fasteners Limited shows some bullish tendencies, traders should watch for confirmation from a breakout above recent highs or a drop below support levels. Given the stock's current positioning and mixed signals, it's prudent to monitor closely for upcoming shifts.