Saregama India Limited (SAREGAMA) Stock - Complete Technical Analysis - Oct 25, 2024

Saregama India Limited Technical Analysis: Key Levels & Trends Uncovered

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. Saregama India Limited, trading at 485.45, shows considerable volatility with a 52-week high of 688.90 and a low of 309.60. Recent trading patterns highlight significant price drops, with the stock falling from 536.55 to 485.45 over the past week. Technical indicators suggest a weak trend, as the ADX is around 21, and the RSI is at 36.25, indicating potential oversold conditions. The Stochastic oscillator reinforces this with a %K value of 9.68, hinting at possible buying opportunities.

Support levels are noted at 466.40, while resistance could be found around 503.50. The stock's failure to maintain its position above the 200-day EMA at 485.13 suggests continued bearish sentiment. Traders should watch for movements near these levels; a breakthrough resistance could signal a bullish reversal, whereas continued trading below support could lead to additional downside. The market sentiment remains cautious, urging traders to stay vigilant for potential reversal signals or further downward movement.