Steel Strips Wheels Limited (SSWL) Stock - Complete Technical Analysis - Nov 25, 2024

Steel Strips Wheels Limited (SSWL) Stock Analysis Key Support & Resistance Levels Explained Tech

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.

Steel Strips Wheels Limited (SSWL) is currently trading at 209, 27.74% below its 52-week high of 289.5. The stock's P/E ratio of 15.1 and strong fundamentals with a 17.7% ROE suggest it is reasonably valued. The current price is showing a stabilizing pattern, supported by recent lows at around 200 and 195 levels. However, the stock is below key moving averages, indicating short-term weakness. The RSI is neutral at 52.75, and the Stochastic oscillator is at 44.78, showing potential for upward momentum if it finds support.

For traders, the key levels to watch are the 200-205 support range and the 210-215 resistance zone. A break above 215 could signal further bullish movement, while a breakdown below 200 could lead to a decline towards 190 or even 174. The stock's current volatility, indicated by the ATR, is moderate, suggesting potential for short-term price swings. With the ADX at 22.84, indicating weak trend strength, it's essential for traders to look for confirmation of trend reversal or continuation at these price levels.

While there's no strong trend at the moment, the MACD in negative territory implies that the stock could continue its downward move if it fails to hold support at 200. Keep an eye on these levels for potential breakout or breakdown setups.