Syrma SGS Technology Limited (SYRMA) Stock - Complete Technical Analysis - Sep 20, 2024

Technical Analysis of Syrma SGS Technology: Key Levels and Trading 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. Today, we're diving into a technical analysis of Syrma SGS Technology Limited, currently trading at 443. The stock is approximately 37% below its 52-week high of 705.2 and about 14.75% above its 52-week low of 386. Inside candle patterns have formed recently, indicating potential consolidation within the price range of 435 to 448.

The MACD is positive, suggesting bullish momentum, while the RSI sits near neutral territory, indicating a balanced market sentiment. However, the Average Directional Index (ADX) is relatively low, hinting at a weak trend. Support is found around the classic pivot level of 444.88, while resistance can be anticipated at the previous high of 448.95.

Moving averages show a slight bearish sentiment in the short term with the 10-day EMA at 443.29 being close to the current price. Watch for a breakout above 448 to confirm an upward trend. Conversely, a drop below 435 may signal a short-term decline.

In summary, Syrma presents a mixed technical picture, with potential for short-term trading opportunities based on price action within defined ranges.