Sanghvi Movers Limited (SANGHVIMOV) Stock - Complete Technical Analysis - Dec 04, 2024

Is Sanghvi Movers Ready for a Rebound Technical Analysis & Key Levels

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.

Sanghvi Movers Limited (SANGHVIMOV) shows bearish tendencies with the current price of 331.95, 55% below its 52-week high. However, the recent consolidation near 330 suggests some stabilization. RSI at 40 indicates potential overselling, aligning with the Stochastic RSI, which shows signs of an impending upward correction. MACD remains negative, signaling bearish momentum, but the momentum indicator has turned positive, suggesting early signs of bullish divergence. The Hull Moving Average near 331 supports a possible base formation, while the Ichimoku Base Line at 365 hints at a potential upside cap in the short term.

The stock faces resistance near 336 and 350, with critical support around 328. Recent price action suggests that breaking above 336 could shift momentum toward 365. Traders should monitor the Awesome Oscillator and volume patterns for any bullish divergence. Elevated volatility as shown by ATR signals potential sharp swings, making this a stock to watch closely for a breakout or a breakdown.