Shakti Pumps (India) Limited (SHAKTIPUMP) Stock - Complete Technical Analysis - Aug 30, 2024

Shakti Pumps Stock Analysis: Key Support, Resistance

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. Shakti Pumps (India) Limited, trading at 4,472, is showing a mixed technical picture. The stock is currently -88.11% from its 52-week high of 5,075.45 and 58.39% above its 52-week low of 381. The support levels to watch include the Classic Pivot S1 at 3,836.9 and Camarilla S1 at 4,195.27. Key resistance levels are seen at the Classic Pivot R1 of 4,728 and Woodie Pivot R1 at 4,761. The Exponential Moving Averages (EMAs) indicate short-term strength, with the 10-period EMA at 4,447.45, slightly above the current price, while the longer-term EMAs show a gradual upward trend. The MACD is positive, suggesting bullish momentum, but the RSI is neutral, indicating that the stock is neither overbought nor oversold. The ADX is around 27.6, showing a strong trend but not necessarily a directional trend. The Stochastic Oscillator and Williams Percent Range signal potential oversold conditions, while the Awesome Oscillator suggests a potential bullish shift. Overall, the stock's technicals indicate a mixed short-term outlook with potential for volatility and possible bullish reversal if it crosses key resistance levels.