Shivalik Rasayan Limited (SHIVALIK) Stock - Complete Technical Analysis - Nov 04, 2024

Shivalik Rasayan Limited Technical Analysis: Key Levels to Watch

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 analyzing Shivalik Rasayan Limited, we observe the stock trading at 570.30, indicating a recovery from recent lows. Key support is seen at 560, while immediate resistance lies at 594.95, which was tested today. The RSI, currently in neutral territory, suggests potential for momentum shifts. However, a high stochastic reading indicates overbought conditions, signaling traders to approach with caution. The MACD's bearish positioning implies continued selling pressure, and the increasing ATR reflects heightened volatility, suggesting potential price swings ahead. Recent trading patterns reveal a notable surge on November 1, leading to a close at 588.85, before today's retracement. Traders should focus on the support at 560 and resistance at 594 to inform their decisions, considering the current volatility in the market.