Schaeffler India Limited (SCHAEFFLER) Stock - Complete Technical Analysis - Nov 19, 2024

Schaeffler India Stock Analysis Technical Indicators, Support, Resistance & Trends Nov 2024

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. Schaeffler India Limited (SCHAEFFLER) - In-depth Technical Analysis

Price Movement:

Schaeffler India Limited's stock is currently trading at 3,415.10. The stock has pulled back sharply from its 52-week high of 4,951.00, showing a 31.02% decline. On the other hand, it is 26.38% above the 52-week low, indicating that it is still in a recovery phase.

Support and Resistance:

Immediate Support: 3,381.70 (recent low).

Major Support: 3,200.18 (Classic Pivot S1).

Immediate Resistance: 3,478.00 (high of today's session).

Next Resistance: 3,543.39 (20-day EMA).

A break below the immediate support could lead to further downside, while a breakout above the resistance at 3,478.00 may open up the stock to higher levels.

Technical Indicators and Patterns:

RSI at 35.68 shows the stock is oversold, indicating potential for a reversal.

Stochastic %K at 27.76 supports the possibility of a reversal.

MACD is bearish but narrowing, which could signal weakening bearish momentum.

Doji and Spinning Top Patterns indicate market indecision, suggesting that the price could either consolidate or reverse, depending on future price action.

Moving Averages:

The stock is trading below its major moving averages, including the 50-day EMA at 3,704.48, suggesting the possibility of further downside if it fails to hold support. If the stock breaks the resistance level at 3,478.00, it could retest the 50-day EMA.

Volatility and ATR:

The ATR value is showing moderate volatility, indicating significant price movement. Traders should be cautious of sudden price surges or drops, as the stock is prone to volatility.

Conclusion:

Schaeffler India is at a crucial juncture. While the stock shows signs of potential reversal due to its oversold condition and key support levels, the bearish momentum indicated by the MACD and RSI should not be ignored. A breakout or breakdown from the current range will provide a clearer direction.