Schaeffler India Limited (SCHAEFFLER) Stock - Complete Technical Analysis - Oct 07, 2024

Unlocking Potential: Schaeffler India Limited Stock Analysis & Price Trends

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. Today, well analyze Schaeffler India Limiteds stock performance and identify key technical indicators, support, and resistance levels. Currently trading at 3,765.50, this stock is 23.94% below its 52-week high of 4,951, reached on June 18, 2024, and 44.15% above its 52-week low of 2,612.20 from November 2, 2023.

Looking at the price trends, the last five days show some fluctuations. On October 7, the stock opened at 3,870 and hit a low of 3,742.25, closing at 3,765.50. Notably, on October 4, the stock saw a high of 3,917.10 before closing at 3,870. The volatility is evident, especially with a noticeable drop from October 1 to October 7.

The support and resistance levels can be established based on the recent price movements. Immediate support is at 3,742.25, where the stock has found some buying interest. Resistance lies at the previous high of 3,917.10, indicating a potential barrier for upward momentum.

Analyzing sudden price drops or surges, we observe a consistent downtrend over the past week, marked by a significant drop on October 7 from the opening price. This could indicate profit-taking or bearish sentiment in the market.

Regarding volatility, the Average True Range (ATR) indicates elevated volatility levels, suggesting substantial price swings. This, coupled with a low ADX of 14.29, reflects a weak trend, implying that traders should be cautious and possibly look for consolidation before making significant moves.

Momentum indicators like the MACD are showing negative territory, reflecting potential bearish momentum. The RSI is sitting around 39.96, indicating the stock is approaching oversold territory, which may lead to a price reversal if buying pressure increases.

In summary, traders should monitor Schaeffler India Limited closely, particularly around support at 3,742.25 and resistance at 3,917.10. Given the current volatility, potential for sudden price movements exists, making this an intriguing stock for both short-term trading and long-term investment considerations.