TVS Srichakra Limited (TVSSRICHAK) Stock - Complete Technical Analysis - Sep 23, 2024

TVS Srichakra Stock Analysis: Key Support & Resistance Levels Revealed

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. TVS Srichakra Limited is currently trading at 4,248, reflecting a notable position in the market. The stock's P/E ratio stands at 32.0, which suggests a growth expectation, although it is essential to compare this against sector averages for deeper insights. With a book value of 1,455 and a dividend yield of 1.12%, the company provides some return on investment even in a challenging market.

From a technical standpoint, the Average Directional Index (ADX) indicates weak trend strength at 18.7, suggesting that the stock is currently in a sideways movement. The Relative Strength Index (RSI) at 36.55 shows that the stock is approaching oversold conditions, which could indicate a potential reversal soon. The Stochastic %K is at a low 5.08, also reflecting oversold conditions, and the MACD level is negative, suggesting bearish momentum.

The stock has recently tested support around 4,156, which coincides with the Classic Pivot S1 level. A bounce from this level could be an opportunity for traders, but caution is warranted as the price is currently below significant moving averages, including the 50-day and 200-day EMAs. Resistance is observed at 4,566, where the Ichimoku Base Line resides, along with other key moving averages.

In summary, traders should monitor the upcoming sessions for potential reversals around the support level of 4,156. A close above 4,566 could signal a bullish move, while a sustained break below 4,156 might indicate further downside. Overall, this stock warrants close attention, as the technical indicators suggest it may be at a pivotal point in its trading range.