Surya Roshni Limited (SURYAROSNI) Stock - Complete Technical Analysis - Sep 10, 2024

Surya Roshni Stock Analysis: Key Levels & Market Insights Technical Review 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. Surya Roshni Limited is currently trading at 644.45, which is approximately 23% below its 52-week high of 841.65, achieved on January 11, 2024. The stock is up about 43% from its 52-week low of 450.8, recorded on October 4, 2023.

The technical analysis for Surya Roshni Limited reveals several key insights. Resistance levels are anticipated around 660 to 670, with significant resistance likely near the 671 mark, based on recent price movements and various moving averages. On the downside, support is seen near the 620 to 640 range, with a critical support level around 627, where the stock has been consolidating recently.

Technical indicators suggest a mixed to bearish outlook. The RSI is near neutral, indicating a balanced market sentiment. The MACD, however, is positive, suggesting potential upward momentum. The ADX indicates a weak trend strength, which aligns with the current consolidation phase. The Stochastic and Stochastic RSI are in oversold conditions, suggesting potential for a rebound. The Awesome Oscillator is positive, indicating bullish momentum, but the Momentum indicator and Commodity Channel Index are negative, hinting at possible downside pressure.

The Bull Bear Power and Ultimate Oscillator also show some bearish tendencies, reinforcing the current consolidation. The Ichimoku Base Line and various moving averages suggest mixed signals, with potential resistance at higher levels.

In summary, Surya Roshni Limited is navigating a consolidation phase with key resistance and support levels to monitor. Traders should watch for potential breakouts or breakdowns around these levels to gauge future market direction.