Sadhana Nitrochem Limited (SADHNANIQ) Stock - Complete Technical Analysis - Sep 02, 2024

Sadhana Nitrochem Stock Analysis: Key Support

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.

Sadhana Nitrochem Limited (SADHNANIQ) Technical Analysis

The current price of Sadhana Nitrochem Limited (SADHNANIQ) is 75.3. The stock is trading 31.55% below its 52-week high of 110.0, which was recorded on November 7, 2023. Conversely, it is 53.34% above its 52-week low of 49.1, also from November 7, 2023.

Support and Resistance Levels:

Classic Pivot Point: 77.61

Resistance Levels: R1 at 86.55, R2 at 95.18, R3 at 112.75

Support Levels: S1 at 68.98, S2 at 60.04, S3 at 42.47

Camarilla Pivot Point: 77.61

Resistance Levels: R1 at 79.52, R2 at 81.13, R3 at 82.74

Support Levels: S1 at 76.3, S2 at 74.69, S3 at 73.08

Fibonacci Pivot Point: 77.61

Resistance Levels: R1 at 84.33, R2 at 88.47, R3 at 95.18

Support Levels: S1 at 70.9, S2 at 66.76, S3 at 60.04

Woodie Pivot Point: 77.68

Resistance Levels: R1 at 86.67, R2 at 95.25, R3 at 104.24

Support Levels: S1 at 69.1, S2 at 60.11, S3 at 51.53

Moving Averages:

Exponential Moving Averages (EMA):

10-day EMA at 75.27

20-day EMA at 75.22

30-day EMA at 75.15

50-day EMA at 74.47

100-day EMA at 74.08

200-day EMA at 77.52

Simple Moving Averages (SMA):

10-day SMA at 75.15

20-day SMA at 73.89

30-day SMA at 76.85

50-day SMA at 75.47

100-day SMA at 71.07

200-day SMA at 77.20

Technical Indicators:

MACD: Currently in a negative position, suggesting potential bearish momentum.

RSI: Neutral, indicating neither overbought nor oversold conditions.

Stochastic %K: Indicates the stock is in a moderately strong uptrend.

Stochastic RSI: Showing the stock is in an overbought condition, which might indicate a potential pullback.

Average Directional Index (ADX): Low, reflecting a weak trend strength.

Commodity Channel Index (CCI): Positive, suggesting the stock may be in an uptrend.

Awesome Oscillator: Negative, indicating bearish momentum.

Williams Percent Range: Suggests the stock is in a moderately strong downtrend.

Bull/Bear Power: Positive, indicating the potential for bullish momentum.

Ultimate Oscillator: Neutral, showing a lack of strong trend signals.

Chart Patterns and Observations:

The stock's price is currently very close to its EMAs, which suggests a consolidation phase or possible range-bound trading.

With the stock trading near the pivot points, key levels to watch are around the Classic and Camarilla Pivots for potential breakout or breakdown signals.

Given these observations, traders should monitor the support and resistance levels closely for potential trading opportunities and watch for any shifts in momentum indicators that could signal a change in trend direction.