TVS Srichakra Limited (TVSSRICHAK) Stock - Complete Technical Analysis - Oct 29, 2024

Technical Analysis of TVS Srichakra: Key Levels & Trends Unveiled

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 technical analysis of TVS Srichakra Limited (TVSSRICHAK), currently priced at 3,713, we observe that the stock is trading 27.15% below its 52-week high of 5,097. Today's market behavior presented a spinning top candle, which indicates indecision and potential volatility in price movements. The immediate support level is identified at 3,640, while the resistance is noted at 3,750. If the stock breaks the support, it could retest the 3,600 mark; if it surpasses resistance, a move towards 3,800 is possible.

The MACD remains in the negative zone, indicating bearish momentum, while the RSI of 32.47 suggests the stock is nearing oversold conditions. An ADX reading close to 30 indicates a strong downtrend. With volatility reflected in the ATR, traders must be prepared for sharp price movements. The recent trend of lower highs presents a cautionary outlook for the stock. Overall, close attention to these levels and indicators will be essential for traders looking to navigate potential opportunities in TVSSRICHAK.