Sansera Engineering Limited (SANSERA) Stock - Complete Technical Analysis - Nov 22, 2024

Sansera Engineering (SANSERA) Stock Analysis: Key Support, Resistance & Indicators Breakdown

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. Sansera Engineering Limited, priced at 1481.80, appears to be in a consolidation phase. The stock is currently 15.7% below its 52-week high of 1758.30, but it's trading 79.46% higher than its 52-week low of 825.7. This indicates that the stock has shown strong recovery from the lows.

In terms of technical indicators, the RSI is at 44.11, which points to a neutral market, suggesting neither overbought nor oversold conditions. The ADX reading of 17.27 indicates weak trend strength, and this is reinforced by the Doji and Spinning Top candlestick patterns formed recently, which indicate indecision in the market.

The stock has key support at the 1448-1450 range, which has been tested several times over the past few sessions. If this support holds, the stock may attempt to rally. On the resistance side, 1492 and 1510 remain significant levels to watch. The price has struggled to break above these levels recently, indicating potential resistance.

Moving averages show a neutral to slightly bearish stance, with the stock trading below the 10-day EMA of 1492.85 but above the longer-term 200-day EMA at 1321.95. This suggests a possible continuation of the overall bullish trend in the long run, but in the short term, the stock might face resistance.

Momentum indicators like the MACD and Awesome Oscillator show weak bearish momentum, indicating that the selling pressure is still in place. The Stochastic RSI and Williams Percent Range also suggest a bearish bias, adding to the downside risk.

Given the current volatility, with an ATR indicating moderate fluctuations, the stock is likely to continue range-bound trading in the near term. Traders should watch for breaks above 1492 or below 1448 to confirm the next move. If support holds at 1448, the stock may attempt to climb higher, but if it breaks below, it may head towards 1400 or lower.