Sandhar Technologies Limited (SANDHAR) Stock - Complete Technical Analysis - Sep 23, 2024

Sandhar Technologies Limited: Technical Analysis & Key Support Levels NSE Stock 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. Let's dive into the technical analysis of Sandhar Technologies Limited, currently trading at 587. The stock has shown significant volatility, with a current price approximately 16.11% below its 52-week high of 697.5, reached on August 6, 2024. Conversely, it sits around 69.46% above its 52-week low of 345.3 from October 26, 2023.

Analyzing key indicators, we find the Average Directional Index (ADX) at 11.84, suggesting a weak trend. The Relative Strength Index (RSI) is at 39.51, indicating the stock is nearing oversold conditions, while the Stochastic %K at 20.14 further confirms this sentiment. The MACD is negative, suggesting bearish momentum, and the Awesome Oscillator also indicates downward pressure.

Support levels appear robust at approximately 570, as indicated by Classic and Fibonacci pivot points. If the stock breaks below this level, the next significant support may be found near 531. On the resistance front, the stock may face challenges around 633, with further resistance around 672.

Moving averages show short-term bearish sentiment, with the stock trading below both the 10-day and 20-day EMAs, which are at 600.69 and 607.55 respectively. However, the long-term 200-day EMA at 536.88 provides a buffer against substantial declines.

In summary, Sandhar Technologies Limited is in a corrective phase, trading below key moving averages. Traders should watch for a potential reversal as the stock approaches the support level around 570, with the RSI and Stochastic indicators suggesting a possible rebound. It's crucial to monitor these levels closely for trading opportunities in the coming sessions.