Shriram Properties Limited (SHRIRAMPPS) Stock - Complete Technical Analysis - Dec 09, 2024

Shriram Properties Stock Analysis: Key Levels, Trends, and Trade Ideas

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.

Shriram Properties Limited is trading near 108, consolidating between its key levels of 107-110. The stock's long-term trend remains bearish, as it stays below its 200-day EMA at 112.83. The Bearish Engulfing pattern, coupled with a negative MACD, suggests downside potential, while moderate ADX reflects a lack of strong directional momentum.

Short-term indicators like Stochastic RSI (90.85) highlight overbought conditions, hinting at a probable pullback. Meanwhile, CCI (67.77) and Momentum (9.14) show the stock is nearing resistance. If bulls push beyond the 112 level, the next target could be 117, but failure to maintain 105 may lead to a sharper correction toward 97.

Investors should remain cautious and use proper stop-loss levels. Monitoring support at 105 and resistance near 112 is crucial. A break above 112 may trigger buying interest, but bearish indicators warrant vigilance for a downside continuation. The stock's medium-term recovery depends on sustaining above key EMAs and overcoming its bearish price patterns.