Sudarshan Chemical Industries Limited (SUDARSCHEM) Stock - Complete Technical Analysis - Nov 22, 2024

Sudarshan Chemical Industries Technical Analysis Key Levels & Insights for Traders

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. Sudarshan Chemical Industries Limited (SUDARSCHEM) is currently facing a mixed technical outlook. With the stock trading at 963.50, it's 21.95% below its 52-week high of 1234.45 and 114.78% above its 52-week low of 448.60. The stock has recently seen some price fluctuations, with sharp movements from 916.45 to 973.00, followed by a close at 963.50 on Nov-22. This volatility points to potential reversals in either direction.

Technically, the stock is underperforming, trading below its 50 and 100-day exponential moving averages, suggesting that the trend remains bearish in the short-to-medium term. The RSI at 47.07 indicates that the stock is neither overbought nor oversold, while the Stochastic %K shows an oversold condition at 20.21, signaling the possibility of a bounce. However, with MACD in negative territory at -23.7 and the ADX indicating weak trend strength at 12.09, this is not a clear buy signal.

Key price levels to watch are the immediate support around 900 and resistance around 1060. If the stock breaks below 900, it could continue the downtrend. If it breaks above 1060, traders may expect a short-term bullish reversal. Traders should remain cautious and watch for further price action to confirm the next trend direction.