Sundaram Finance Limited (SUNDARMFIN) Stock - Complete Technical Analysis - Nov 08, 2024

Sundaram Finance Technical Analysis: Key Levels to Watch for Traders SUNDARMFIN Stock 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. Sundaram Finance Limited (SUNDARMFIN), trading at 4,553, remains 17.75% below its 52-week high and 46.61% above its low, indicating moderate volatility. The stock's price has been fluctuating significantly in the last few days, as seen in the recent movement from a high of 5,025 to a low of 4,512. This suggests that the stock is undergoing short-term turbulence but still remains within a defined range. The ADX indicator at 18.62 shows a weak trend, and the RSI of 37.88 indicates that the stock is in oversold territory, potentially setting the stage for a rebound.

The MACD indicator is negative, which is a bearish sign, and suggests that the bears currently dominate the market. The Momentum and Awesome Oscillator also reflect weakening buying pressure, while the Stochastic RSI value of 28.0 aligns with oversold conditions. In terms of price action, immediate support can be seen around the 4,500 mark, with resistance near 4,800-4,900.

For those looking to trade SUNDARMFIN, these levels are critical. If the stock drops below the support at 4,500, it could fall further toward 4,400. However, if the stock holds above 4,500 and starts showing signs of stabilization, traders might want to look for a rebound toward resistance at 4,800 or higher. Monitoring these key price points along with momentum indicators will help traders make informed decisions in the short-term.