Sundram Fasteners Limited (SUNDRMFAST) Stock - Complete Technical Analysis - Sep 05, 2024

Sundram Fasteners Stock Analysis: 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. For Sundram Fasteners Limited, currently trading at 1,377, the technical indicators present a mixed but generally positive outlook. The stock is positioned 8.55% below its 52-week high of 1,505 and 37.30% above its 52-week low of 1,003, showing a strong uptrend over the past year.

In terms of support and resistance, the classic pivot point is at 1,373, with immediate resistance around 1,429 and support around 1,297. The stock is trading above its Exponential Moving Averages for the 10, 20, and 50-day periods, indicating a bullish trend. However, it is slightly below the 200-day EMA, suggesting potential for further gains if the uptrend continues.

The Average Directional Index (ADX) at 24.63 indicates a moderately strong trend. The Relative Strength Index (RSI) is at 55.7, reflecting a neutral but slightly bullish momentum. The MACD is currently negative, signaling that the stock may face some downward pressure or consolidation in the short term. The Stochastic Oscillator and Williams Percent Range suggest the stock is neither overbought nor oversold.

The Commodity Channel Index (CCI) and Ultimate Oscillator both indicate that the stock is in a strong bullish phase. The Awesome Oscillator is slightly negative, which might suggest some volatility or a potential correction. The Hull Moving Average and Volume Weighted Moving Average are supporting the bullish trend, as they are below the current price.

Overall, the stock is in a strong upward trend with potential resistance at higher levels but showing positive technical signals that suggest a continuation of the uptrend if it maintains above key moving averages and support levels.