SKF India Limited (SKFINDIA) Stock - Complete Technical Analysis - Nov 29, 2024

SKF India Technical Analysis: Key Levels to Watch and Price Action Insights for Traders Partha Ku

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. SKF India Limited (SKFINDIA) has been showing significant volatility in recent trading sessions. Currently priced at 5,006, it is well below its 52-week high of 7,350, indicating a correction phase. The stock is trading near its support levels, and the recent Doji candlestick pattern signals indecision in the market. In the past few days, the stock has seen price fluctuations, with resistance at 5,100 and support around 4,950.

From a technical perspective, the RSI is in the neutral range, suggesting no strong momentum either way. The MACD remains below the signal line, pointing to bearish pressure, while the ADX indicates a weak trend. The stock is currently below all key EMAs, which suggests a bearish outlook, with the price struggling to cross above the 50-day EMA.

Traders should be cautious about sudden price surges or drops, as volatility is higher than usual, as reflected by the ATR. A close look at the 4,950 support and 5,100 resistance levels will provide valuable insights for potential price action in the coming days.