Chemplast Sanmar Limited (CHEMPLASTS) Stock - Complete Technical Analysis - Oct 18, 2024

Chemplast Sanmar Limited Stock Analysis: Key Levels & Trends for Traders

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 this analysis, we look at Chemplast Sanmar Limited, currently trading at 479. The stock is down 24.49% from its 52-week high of 633.9 on June 14, 2024, but is 18.83% above its low of 402.8 recorded on June 10, 2024.

The last five trading sessions show considerable volatility, opening at 486 on October 18 and closing lower at 478.65. Previous sessions indicate a trend of lower highs and lows, suggesting bearish momentum. The negative MACD reinforces this sentiment, while the RSI at 36 indicates it may soon reach oversold territory. Stochastic indicators confirm the bearish trend, indicating further caution.

Support is identified around 489.47, which could become critical if breached, with potential downside towards 464.68. Resistance levels to watch include 493.29 and 498.54.

In summary, Chemplast Sanmar is in a selling phase, with indicators pointing to a cautious approach for traders. Keep an eye on these levels for potential opportunities.