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Shivalik Bimetal Controls Limited (SBCL) Stock - Complete Technical Analysis - Oct 29, 2024

Shivalik Bimetal Controls: Technical Analysis & Trading 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. Shivalik Bimetal Controls Limited is currently trading at 626.95, reflecting a 14.09% drop from its 52-week high. Recent price action indicates significant volatility, with highs and lows fluctuating between 613.70 and 637.05. The stock has been testing resistance near 650, evidenced by recent highs failing to hold.

Technical indicators paint a mixed picture; while the RSI suggests the stock is nearing oversold conditions, the MACD points to declining momentum, indicating caution for traders. The Average Directional Index indicates a weak trend, suggesting that any upward movements might lack strength. Key support is identified at 613, while resistance is observed in the 640-650 range. Traders should be vigilant for signs of a trend reversal and consider waiting for more concrete signals before taking positions.





 

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