Sasken Technologies Limited (SASKEN) Stock - Complete Technical Analysis - Aug 30, 2024

Sasken Technologies Stock Analysis: Key Support, Resistance

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. For Sasken Technologies Limited, currently trading at 1,583, the technical analysis indicates several important levels and trends. The stock has been trading 19.04% below its 52-week high of 1,955.2 and 67.70% above its 52-week low of 943.9. Key support levels are identified at the classic pivot support of 1,516.47 and the Fibonacci support of 1,590.62. Resistance levels are noted at the classic pivot resistance of 1,896.62 and the Fibonacci resistance of 1,881.05.

Looking at moving averages, the stock is below its 10, 20, and 50-day exponential moving averages, suggesting a bearish trend. The 200-day EMA and 200-day simple moving average also indicate a longer-term downtrend. The Ichimoku base line further confirms resistance around 1,644.45.

On the momentum indicators, the MACD shows a negative crossover, while the RSI is below the neutral 50 mark, indicating potential bearish momentum. The ADX value is low, suggesting a weak trend. The stochastic oscillator and Williams %R are in the oversold territory, which might signal a potential reversal or consolidation.

Chart patterns show a bullish harami, which could indicate a potential reversal or upward correction. The ATR values suggest a high level of volatility, which traders should consider when planning their trades. Overall, Sasken Technologies is experiencing mixed signals with bearish tendencies, but the bullish harami pattern could offer a glimmer of hope for a potential short-term rebound. Traders should closely watch these levels and indicators for more precise entry and exit points.