TVS Srichakra Limited (TVSSRICHAK) Stock - Complete Technical Analysis - Oct 21, 2024

TVS Srichakra Stock Analysis: Can it Bounce Back Technical Insights and 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.

In this analysis of TVS Srichakra Limited, we observe a stock currently trading at 4,037, 20.80% below its 52-week high of 5,097 and 14.19% above its 52-week low of 3,535. The recent bullish engulfing pattern suggests that buyers may be stepping in, but caution is warranted. The current price action saw a high of 4,077, indicating potential resistance levels.

The stocks indicators present a mixed picture. The Average Directional Index (ADX) at 22.73 indicates a weak trend, while the RSI at 40.41 points to potential oversold conditions. The Stochastic oscillator is also low, suggesting a possible upward shift. However, the MACD remains negative, indicating underlying bearish pressure, and the Awesome Oscillator supports this view.

Moving averages indicate that the 50-day and 100-day EMAs are acting as significant resistance levels above the current price. On the support side, the Hull Moving Average at 4,003.83 acts as a critical short-term support level.

Investors should keep an eye on the support level around 4,019.1 and be alert for a breakout above 4,077, which could confirm a bullish trend. Until then, caution is advised given the mixed signals and overall volatility in the stock.