Subros Limited (SUBROS) Stock - Complete Technical Analysis - Oct 21, 2024

Analyzing Subros Limited: Key Support, Resistance, and Technical 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 658, representing a significant 20.46% drop from its 52-week high of 827.4 reached on August 28, 2024. This decline has raised concerns among traders, particularly as the stock is now 87.68% above its 52-week low of 350.65.

The last five trading days show volatility with the most recent session opening at 673.75 and dipping to a low of 651.95. This suggests that there may be bearish momentum, as evidenced by the MACD being in negative territory, and the RSI reflecting oversold conditions.

However, the stock could experience a reversal, particularly if the RSI begins to rise above 35. Support levels around 651 are critical; if breached, traders should look for further declines towards lower support zones. Conversely, resistance near the Exponential Moving Average (10) around 684 may act as a pivotal point for potential upward movement.

Traders should keep an eye on volume changes and additional confirmation from indicators like the Stochastic and CCI before entering positions. Overall, Subros Limited presents a scenario where cautious monitoring and strategic planning will be essential to capitalize on potential reversals.