Swastik Pipe Limited (SWASTIK) Stock - Complete Technical Analysis - Sep 23, 2024

Swastik Pipe Limited: Bearish Momentum & Key Support Levels You Must Know

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. In this technical analysis of Swastik Pipe Limited, currently priced at 64.9, we observe a stock that is experiencing bearish momentum. The Relative Strength Index indicates that the stock is nearing oversold territory, suggesting potential buying opportunities if the selling pressure eases. However, the MACD is in negative territory, reflecting a lack of bullish momentum.

Support levels are identified around 61.37, which could act as a floor for the stock, while resistance is noted near 71.18. With the Average Directional Index indicating a weak trend, traders should remain cautious. The Stochastic and Williams Percent Range are both signaling oversold conditions, which may hint at a possible rebound if buying interest returns. Overall, traders should keep an eye on these key levels for potential trading strategies, particularly if the stock can sustain above support.