The Andhra Sugars Limited (ANDHRSUGAR) Stock - Complete Technical Analysis - Nov 01, 2024

ANDHRSUGAR Stock Analysis: Key Support, Resistance & Indicators Explained

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.

Web Technical Analysis for The Andhra Sugars Limited (ANDHRSUGAR) ANDHRSUGARs price action reflects a neutral to mildly bullish sentiment with its current price of 106.44. The Stochastic RSI is high at 89.22, hinting at potential overbought conditions in the short term, which may lead to a brief pullback. Meanwhile, the Williams %R shows the stock is close to overbought territory, reinforcing caution among traders looking to initiate fresh positions. The Volume Weighted Moving Average (VWMA) at 102.27 suggests recent upward price movements have been backed by moderate buying interest.

Moving averages present a mixed outlook. Short-term EMAs and SMAs are hovering around the current price level, with the SMA-10 below it at 99, indicating minor support in the immediate term. For those seeking to trade within a tight range, this could be ideal; however, a more sustained upward movement would require clearing resistance around the SMA-50 and EMA-100 levels. The Ultimate Oscillator is balanced at 54.14, suggesting the stock lacks strong bullish or bearish bias in the medium term.

In terms of support, traders should watch levels around 92, derived from recent lows and Fibonacci pivots. If the stock holds above these support levels, it may revisit the 112-115 range. However, a decline below 102 could indicate further downside risk. The Awesome Oscillators negative reading indicates the absence of strong bullish momentum. While a sudden surge in volume could change this, traders should remain cautious, as near-term volatility could prompt sharp moves. Keep an eye on these resistance levels, especially given the increased volatility seen in recent sessions.