Sundaram Clayton Limited (SUNCLAY) Stock - Complete Technical Analysis - Aug 30, 2024

Detailed Technical Analysis of Sundaram Clayton Limited (SUNCLAY) Stock Key Levels

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.

Sundaram Clayton Limited (SUNCLAY) is currently trading around 1,744. The stock shows a mix of technical signals that could guide traders. The average directional index (ADX) at 15.25 indicates a weak trend, suggesting that the stock may be in a range-bound phase. The relative strength index (RSI) of 48.69 is near the neutral zone, hinting that the stock isn't in overbought or oversold territory.

The MACD is below zero, reflecting a bearish momentum, while the stochastic indicators, including %K and RSI, suggest mixed signals, with %K indicating potential bearish momentum and the Stochastic RSI showing some recovery. The commodity channel index (CCI) is negative, further supporting the bearish outlook.

Key moving averages show that the stock is currently below its short-term averages but above its longer-term averages. The exponential moving average (EMA) at 10 periods is slightly above the current price, while the EMA for 20 and 30 periods suggests resistance around these levels. The simple moving averages (SMA) also indicate similar resistance levels.

Pivot points provide several levels to watch: the classic pivot point is at 1,824, with resistance at 2,130 and support at 1,591. Camarilla pivots also highlight immediate resistance and support zones, with the closest resistance at 1,946 and support at 1,798. Fibonacci pivots place key resistance at 2,030 and support at 1,618.

Chart patterns include a Doji and a spinning top, both of which signal indecision in the market. These patterns suggest that traders should be cautious and look for confirmation before making any significant moves. The average true range (ATR) indicates high volatility, implying that price swings could be more pronounced.

Overall, SUNCLAY is trading 15.22% below its 52-week high and 44.87% above its 52-week low. Traders should monitor key resistance levels around 1,824 to 2,130 and support around 1,591 to 1,798 for potential trading opportunities.