R K Swamy Limited (RKSWAMY) Stock - Complete Technical Analysis - Sep 02, 2024

R K Swamy Limited (RKSWAMY) 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.

Here's a detailed technical analysis for R K Swamy Limited (RKSWAMY) stock.

Current Technical Overview: The stock is currently trading at 251, showing a decline of 21.72% from its 52-week high of 320.7 and an increase of 10.28% from its 52-week low of 227.65.

Support and Resistance Levels:

Support Levels: Key support levels are at 226.47 (Classic Pivot S1), 243.93 (Camarilla Pivot S1), and 229.64 (Fibonacci Pivot S1). These levels indicate areas where the stock could find buying interest if it falls.

Resistance Levels: Major resistance levels include 297.57 (Classic Pivot R1), 263.49 (Camarilla Pivot R2), and 300.74 (Fibonacci Pivot R1). These levels are potential areas where selling pressure might emerge.

Technical Indicators:

MACD: The MACD is currently negative, indicating bearish momentum.

RSI: The RSI is in the lower range, suggesting that the stock might be oversold.

Stochastic %K: The Stochastic %K is very low, which could imply oversold conditions.

Stochastic RSI: The Stochastic RSI is also in the oversold zone, indicating potential for a reversal.

ADX: The ADX is below 20, suggesting a weak trend.

CCI: The Commodity Channel Index is in the negative range, indicating a downtrend.

Awesome Oscillator: The oscillator is negative, confirming bearish momentum.

Williams %R: This indicator is at an extreme level, suggesting the stock is oversold.

Bull Bear Power: The Bear Power is negative, which is a bearish signal.

Ultimate Oscillator: This is also indicating a weak market condition.

Moving Averages:

The stock is trading below its short-term moving averages but above the long-term averages, indicating a mixed trend.

Support from Moving Averages: The Hull Moving Average is at 250.11, which aligns closely with the current trading price and might act as support.

Resistance from Moving Averages: The Exponential Moving Averages (20) and (50) are at 265.71 and 272.3 respectively, providing resistance.

Chart Patterns:

Doji and Spinning Top Patterns: These patterns suggest indecision in the market. The Doji indicates that the market is unsure of its direction, while the Spinning Top suggests indecision among traders.

ATR Analysis:

The ATR values are currently high, indicating that volatility is increasing.

Summary: The stock is showing bearish signals with various indicators suggesting oversold conditions and indecision in the market. Traders should watch for potential support at the lower levels and resistance at the higher levels. Monitoring these levels can provide insights into potential price movements.