Sanghvi Movers Limited (SANGHVIMOV) Stock - Complete Technical Analysis - Sep 10, 2024

Sanghvi Movers Stock Analysis: Key Support & Resistance Levels Technical Overview September 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. Sanghvi Movers Limited is currently trading at 815, significantly below its 52-week high of 1494.95, which it reached on May 16, 2024. The stock is also 33.07% above its 52-week low of 612.7, seen on September 13, 2023.

From a technical standpoint, the stock is encountering resistance around the 840 to 870 range, with stronger resistance at 900. On the downside, key support levels are between 780 and 810. A break below these levels could signal further declines.

The technical indicators are showing a bearish trend. The MACD is negative, suggesting downward momentum. The RSI is below the neutral mark, indicating the stock may be oversold. The Stochastic %K is also low, reinforcing the bearish sentiment. Additionally, the Commodity Channel Index and Awesome Oscillator are both in negative territory, pointing to weakness. The Williams Percent Range and Bull Bear Power reflect selling pressure, while the Ultimate Oscillator supports the bearish outlook.

In summary, Sanghvi Movers Limited is currently facing resistance around 840 to 900, while crucial support levels lie between 780 and 810. The bearish indicators suggest caution, and traders should be mindful of potential breakdowns below the support zones.