Sanghi Industries Limited (SANGHIIND) Stock - Complete Technical Analysis - Dec 06, 2024

Sanghi Industries Limited (SANGHIIND) Stock Analysis Technical Insights & Key Levels for Traders

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. Sanghi Industries Limited (SANGHIIND) has been in a price range between its 52-week low of 72.71 and high of 156.0, with the current price standing at 81.80. This means the stock is currently trading below its 52-week high by 47.56%, signaling a bearish trend in the long-term, but it is 12.5% above the 52-week low, indicating some short-term support.

When analyzing technical indicators, we see that the stock lacks a strong trend. The Average Directional Index (ADX) of 18.0 shows that the stock is in a sideways market with no significant trend, making it a less reliable pick for trend-based strategies. The Relative Strength Index (RSI) at 49.62 is neutral, showing that the stock is not in an overbought or oversold state, and it could move either way from here.

On the price action side, the Stochastic RSI at 84.93 suggests that the stock could be in an overbought condition, which may lead to a short-term price correction. The Awesome Oscillator at 0.86, alongside the Commodity Channel Index (CCI) at 14.86, indicates that while momentum is positive, its not strong enough to signal any major upward movements in the immediate term.

Looking at key moving averages, the stock is trading near its 10, 20, and 30-period EMAs, signaling low volatility and not enough momentum for strong price movement. Based on classic technical patterns, the key support for Sanghi Industries is around 79.00, while resistance is at 83.50. A break of these levels could see the stock testing the 90-mark or possibly falling towards the 72-level, depending on the direction.

For traders, the current market environment suggests a neutral to slightly bullish bias, but with no clear breakout trend. Traders should closely monitor the stock for breakout or breakdown signals before making any trades.