Shriram Finance Limited (SHRIRAMFIN) Stock - Complete Technical Analysis - Nov 05, 2024

Unlocking Opportunities: Shriram Finance Technical Analysis Key Levels & 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. In today's technical analysis of Shriram Finance Limited (SHRIRAMFIN), we see the stock currently priced at 3,162.30, reflecting a significant positioningabout 64.11% above its 52-week low but also 13.42% off its 52-week high. Recent trading patterns show a Doji and a Spinning Top, which typically signal indecision, hinting at a potential reversal in momentum. The RSI stands at 42.34, close to the oversold region, while the MACD reveals bearish conditions.

From a support perspective, levels at 3,055 and 3,138 are critical, and if the price can navigate above these, resistance may arise around 3,264. The ADX reading of 32.64 suggests a robust trend exists, but traders should remain cautious due to the negative momentum indicated by various oscillators. A careful watch on the price movement around these levels will help traders make informed decisions, particularly looking for opportunities if the stock can establish higher ground while managing risk through appropriate stop losses.