Sagar Cements Limited (SAGCEM) Stock - Complete Technical Analysis - Aug 30, 2024

Sagar Cements Stock Analysis: Key Support, Resistance

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. Today, were diving into the technical analysis of Sagar Cements Limited (SAGCEM). The stock is currently trading around 231. Key support levels to watch are at approximately 231, aligning with Classic and Camarilla S1 pivots, and further support can be found near 215 and 181, according to Classic S2 and S3 pivots. Resistance levels are more prominent, with significant barriers at around 249, 262, and 283, based on Classic and Fibonacci pivots, and extending up to 301 per the Woodie R3 pivot.

The Average Directional Index (ADX) indicates a weak trend, reflecting a value of around 10.67. This suggests that the stock might not be trending strongly in either direction. The Relative Strength Index (RSI) is near neutral at 47.03, signaling neither overbought nor oversold conditions. The MACD is showing a bearish signal with its level at -2.05, indicating that the momentum might be weakening.

The stock has formed a Bullish Harami pattern, suggesting potential for a reversal or upward movement. Despite this, the Awesome Oscillator and Williams Percent Range are in bearish territory, with values of -3.98 and -37.1, respectively.

Moving Averages are quite clustered, with the 10-day EMA at 231.31 and the 50-day SMA slightly higher at 239.69, indicating possible short-term resistance. Long-term averages are also close, with the 200-day EMA at 235.77 and the 200-day SMA at 242.94. The Hull Moving Average is lower at 228.83, suggesting potential support.

ATR values over the past 14 days show variability, with the recent average around 404.21, indicating that price volatility could be significant. The stock is currently trading 24.17% below its 52-week high of 305 and 19.21% above its 52-week low of 194, reflecting a mid-range position in its annual trading range.

Overall, while there are bullish signals from the Harami pattern, mixed indicators suggest caution. Traders should keep an eye on key support and resistance levels and monitor the stocks reaction around these pivots.