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Subros Limited (SUBROS) Stock - Complete Technical Analysis - Oct 11, 2024

Subros Limited Technical Analysis: Bearish Reversal Signals 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. Subros Limited is currently trading at 680, positioned significantly below its 52-week high of 827.4, indicating potential resistance around that level. The stock exhibits bearish momentum, reflected by the recent shooting star pattern, suggesting a possible reversal. With the Average Directional Index showing weak trend strength, traders should be cautious as the Relative Strength Index is nearing the oversold territory.

Looking at the moving averages, the stock is below key EMAs and SMAs, which could indicate a continuation of the bearish trend. The current price is also 17.81% off the 52-week high and has shown substantial movement from the 52-week low, indicating volatility in price action.

Recent price action displays a series of declines with minor corrections, suggesting that sudden price drops have occurred, especially noted in the last trading sessions where the stock moved from 720 down to 680. This indicates a bearish trend, and the market may react to any significant news or earnings reports that could provide either support or resistance.

In terms of volume, the recent ATR indicates a level of volatility which may present trading opportunities for short-term traders. Therefore, close attention should be paid to support levels around 724, which, if breached, could lead to further declines towards the next support at 691.32. Conversely, resistance at around 800 should be observed for any signs of upward momentum.





 

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