Schaeffler India Limited (SCHAEFFLER) Stock - Complete Technical Analysis - Sep 25, 2024

Schaeffler India Stock Analysis: Bearish Signals & Trading Levels to Watch

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 today's technical analysis of Schaeffler India Limited, currently trading at 3,911.20, we observe a range of indicators signaling potential price movements. The stock has shown a bearish engulfing pattern and an evening star pattern, indicating potential downward pressure. The RSI is currently in neutral territory, suggesting indecision among traders, while the Stochastic oscillator indicates a slight upward momentum.

However, the MACD is in negative territory, which could point to further weakness. The ADX is low, indicating a lack of strong trend momentum. With the stock trading significantly below its recent 52-week high of 4,951, we could expect some resistance around this level.

Support levels may be seen closer to the 3,900 mark, while classic pivot points suggest that the next significant resistance could be near 4,004. Traders should monitor these levels closely, especially considering the recent volatility reflected by the ATR, indicating potential price swings. A careful watch on these indicators will be crucial for making informed trading decisions.