Sirca Paints India Limited (SIRCA) Stock - Complete Technical Analysis - Sep 02, 2024

Bearish Alert: Sirca Paints Technical Analysis SIRCA Stock Trends

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.

Technical Analysis of Sirca Paints India Limited (SIRCA)

Currently trading at 315.30, SIRCA Paints is experiencing a bearish trend. The stock has recently formed a Shooting Star pattern, suggesting a potential bearish reversal. Additionally, the Three Black Crows pattern indicates a strong bearish continuation. The stock is 28.99% below its 52-week high of 444.0 and 11.79% above its 52-week low of 282.05.

Support and Resistance Levels:

Immediate Support: 304.42 (Classic Pivot S1), 287.18 (Classic Pivot S2)

Immediate Resistance: 352.67 (Classic Pivot R1), 383.68 (Classic Pivot R2)

Key Pivot Points: 335.43 (Classic Pivot P), 331.16 (Woodie Pivot P)

Technical Indicators:

MACD: Currently in a bearish phase, suggesting downward momentum.

RSI: At 33.85, indicating that the stock is in the oversold territory.

Stochastic %K: At 14.65, also showing oversold conditions.

Stochastic RSI: At 12.52, confirming strong oversold conditions.

ADX: At 19.05, indicating a weak trend strength.

Ichimoku Base Line: At 342.65, acting as a key resistance level.

Moving Averages: The current price is below most moving averages, including the 10-period (332.91), 20-period (334.41), and the 50-period (340.99). The long-term averages (100 and 200 periods) are also higher than the current price, indicating a bearish trend.

Chart Patterns and Observations:

Shooting Star: A bearish reversal pattern seen recently.

Three Black Crows: A bearish continuation pattern indicating further potential declines.

Volatility and Trading Range:

Average True Range (ATR): The stock shows high volatility with ATR fluctuating around 45-50. This suggests that traders should expect significant price swings.

In summary, SIRCA Paints is currently in a bearish phase with multiple indicators and chart patterns supporting potential further declines. The stock is trading below key moving averages and resistance levels, with oversold conditions noted in technical indicators.