Zensar Technologies Limited (ZENSARTECH) Stock - Complete Technical Analysis - Sep 06, 2024

Zensar Technologies Stock Analysis: Support

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.

Let's dive into the technical analysis of Zensar Technologies Limited, with the stock currently trading around 779. The stock is 7.25% below its 52-week high of 839.5 and 70.63% above its 52-week low of 456.3.

Starting with support and resistance levels, the primary support levels are around the Classic Pivot S1 at 718.83 and Camarilla S1 at 758.55, with the next significant support at Fibonacci S1 of 732.83. On the resistance side, key levels include the Classic Pivot R1 at 820.88 and Camarilla R1 at 777.25, with a further resistance at Woodie R1 of 825.02.

In terms of moving averages, the stock is currently trading just below its 10-day and 20-day exponential moving averages, indicating a slight bearish trend. The 50-day EMA and 100-day EMA are also below the current price, providing additional support levels. The 200-day EMA stands at 645.98, which is quite lower, reflecting a strong long-term uptrend.

For momentum indicators, the MACD is in positive territory, suggesting bullish momentum, though the MACD histogram shows a potential weakening in buying strength. The RSI is at 51, indicating a neutral stance, neither overbought nor oversold. The ADX is at 22.13, suggesting a weak trend strength. The Stochastic Oscillator is at 48, showing that the stock is neither in overbought nor oversold territory.

The Bollinger Bands indicate that the stock is trading closer to the lower band, hinting at potential support near the current level. The ATR reflects significant volatility, suggesting that price swings are likely.

Overall, while Zensar Technologies has shown a strong uptrend over the past year, the current price levels indicate a potential pullback or consolidation phase. Traders should watch for price movements around the identified support and resistance levels for possible trading opportunities.