Ujjivan Small Finance Bank Limited (UJJIVANSFB) Stock - Complete Technical Analysis - Oct 18, 2024

Ujjivan Small Finance Bank: Technical Analysis and Key Support Levels

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. Technical Analysis for Ujjivan Small Finance Bank Limited (UJJIVANSFB)

Ujjivan Small Finance Bank is currently trading at 39.04, which indicates a bearish sentiment as the stock is trading 38.03% below its 52-week high of 63.00 and just 0.10% above its 52-week low of 39.00. The stock's recent performance shows a Three Black Crows pattern, suggesting a potential continuation of bearish momentum.

The Average Directional Index (ADX) is at a high level, indicating a strong trend, but the Relative Strength Index (RSI) is below the neutral mark, pointing towards oversold conditions. The Stochastic %K is also in the low range, suggesting further selling pressure. MACD is negative, supporting the bearish outlook, while Momentum is also showing a declining trend.

From a moving average perspective, the price is currently below key Exponential and Simple Moving Averages, indicating that resistance lies ahead at the levels of 40 and 41. Classic pivot levels suggest that immediate support can be found at around 38.59, with the next level at 36.74. The volatility is evident with an ATR indicating increased fluctuations in price, signaling possible short-term trading opportunities.

In terms of recent price action, the last few days show a consistent downward trend with price declines and lower highs. This indicates a lack of buyer strength, suggesting traders should be cautious. Those looking for potential recovery should monitor the support level at 38.59, as a break below this could lead to further declines, while a bounce could signal a possible reversal.

In summary, traders should be cautious with Ujjivan Small Finance Bank stock, keeping an eye on support levels and watching for potential price reversals in the context of current bearish indicators.