Motherson Sumi Wiring India Limited (MSUMI) Stock - Complete Technical Analysis - Oct 16, 2024

Motherson Sumi (MSUMI) Stock Analysis: Key Levels, RSI, and Moving Averages Explained

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. Motherson Sumi Wiring India Limited (MSUMI) is currently trading at 64.49, reflecting a 19.39% decline from its 52-week high and an 11.48% gain from its 52-week low. The stock is showing signs of weakness, with the RSI around 28, placing it in the oversold territory. Additionally, the Stochastic and Williams %R indicators are also signaling potential oversold conditions, which could lead to a reversal.

The MACD level is negative, showing bearish momentum, but if it crosses upwards, it may indicate a potential bullish shift. With the ADX at 28, the stock is in a moderate trend, but a directional breakout could be imminent. Moving averages show the stock trading below its short and long-term trends, indicating sustained bearishness. However, the Hull Moving Average is near the current price, suggesting some short-term support.

Chart patterns such as Doji and Spinning Top highlight indecision, while an inside candle pattern points to consolidation. Support lies around 63.93, and resistance is at 66.0. Breaking above this could push the price toward 68-70 levels, while a drop below the support may lead to a fall towards 61-62.

Volatility remains high, and traders should be alert for sudden price movements, particularly around key support and resistance zones.