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 detailed technical analysis of Sangam (India) Limited, priced at 392, we see it trading significantly below its 52-week high of 629.95 and above its 52-week low of 293.55, indicating a recovery phase. The last five trading sessions reveal notable price fluctuations, including a recent drop to 386.65, highlighting the stock's volatility. Key indicators show the RSI at 40.89, suggesting potential oversold conditions, while the MACD remains negative, indicating bearish momentum. The ADX reading of 14.8 points to a weak trend, signaling a possible consolidation period ahead. Key support levels to watch are around 387.90 and 353.35, while resistance lies at 397.53 and 412. These levels are crucial for traders as they navigate the current market dynamics. Monitoring these indicators will be essential for making informed trading decisions.
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