Shanthi Gears Limited (SHANTIGEAR) Stock - Complete Technical Analysis - Dec 04, 2024

Shanthi Gears Stock Analysis Key Support & Resistance Levels Is it Time to Buy or Sell

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. Shanthi Gears Limited (SHANTIGEAR), trading at 523.90, has been facing some downward pressure, being 25.48% off its 52-week high. However, it has bounced back 10.69% from its low, suggesting some resilience.

The stock is showing a moderate trend strength with an ADX of 28.17. The RSI is hovering at 43.56, indicating that the stock is nearing oversold territory, which could signal a buying opportunity. MACD is negative but the gap between price and MACD may indicate a potential reversal.

Looking at the moving averages, both the simple and exponential averages are bearish, with shorter-term moving averages below the longer ones. However, the recent low of 518.55 could act as a support level, while 534.70 represents immediate resistance.

The ATR levels confirm that the stock has been volatile, and sharp price movements are likely. Pay attention to any price action near the 520-530 region. If the price holds above this support zone, a possible rebound toward resistance at 540 is plausible.

In conclusion, SHANTIGEAR seems to be in a short-term bearish phase, but the oversold conditions could provide an opportunity for a rebound. Watch key levels and be prepared for volatility.