Sanghi Industries Limited (SANGHIIND) Stock - Complete Technical Analysis - Aug 30, 2024

Sanghi Industries Stock Analysis Key Support

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. Sanghi Industries Limited (SANGHIIND) is currently trading at 88.72, reflecting a 43.13% drop from its 52-week high of 156.0 and a 7.02% gain from its 52-week low of 82.9. Key support levels to watch include the Classic Pivot S1 at 92.37, the Fibonacci Pivot S1 at 94.41, and the Camarilla Pivot S1 at 94.9. Resistance levels to keep an eye on are the Classic Pivot R1 at 101.06, the Woodie Pivot R1 at 100.79, and the Fibonacci Pivot R1 at 101.05.

Technical indicators suggest a bearish trend: the RSI is below the 40 mark, signaling possible oversold conditions. The MACD is in negative territory, indicating weak momentum. The Stochastic and Stochastic RSI also show oversold conditions. The ADX is very low, suggesting a weak trend. Moving averages, both exponential and simple, are declining, indicating downward pressure. The Ichimoku Base Line is higher than the current price, reflecting resistance ahead. The ATR indicates high volatility, which might present both opportunities and risks for traders. The stock is trading below its major moving averages, reinforcing the bearish outlook.

Traders should be cautious of further declines but may find short-term opportunities if the stock rebounds from support levels.