S H Kelkar and Company Limited (SHK) Stock - Complete Technical Analysis - Nov 26, 2024

S H Kelkar Stock Analysis: Support & Resistance Levels, MACD, RSI, and Price Trends Explained

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. S H Kelkar and Company Limited (SHK) stock is showing signs of short-term consolidation, currently trading at around 279.35, 16.92% below its 52-week high of 336.25. Despite the 105.25% gain from its 52-week low, recent price action shows a consolidation phase, with price fluctuations confined within a narrow range. The stock's immediate support seems to be around 270-275, while resistance lies near 280-285 levels.

Looking at technical indicators, SHK's MACD is in a negative crossover, indicating bearish momentum. The RSI stands near 46, suggesting that the stock is neither overbought nor oversold but might be primed for a reversal if it breaks support or resistance. The ADX below 25 signals weak trend strength, indicating indecision in the market. The exponential moving averages (EMAs) indicate near-term resistance at 280-285, with support around 270-275.

Given these technical factors, SHK may face difficulty breaking through the resistance in the short term. A pullback or further consolidation is likely unless there's a breakout above 285. Traders should monitor the support and resistance levels closely for any signs of a shift in momentum.