Shivalik Rasayan Limited (SHIVALIK) Stock - Complete Technical Analysis - Dec 11, 2024

Shivalik Rasayan Stock Analysis - Price Trends, Technical Insights, Support & Resistance Levels N

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. Shivalik Rasayan Limited (SHIVALIK), currently priced at 745.20, has seen a significant dip from its recent 52-week high of 852.10. While this reflects a potential correction in the short-term, the stock remains 51.19% above its 52-week low of 492.90, indicating robust growth over the past year.

Looking at technical indicators, the stock shows mixed signals. The RSI at 65.9 indicates that it is approaching overbought conditions, which could lead to a price correction if market conditions turn. Additionally, the MACD at 59.33 suggests that while the stock is still in a bullish phase, momentum is beginning to decelerate. The Awesome Oscillator at 192.61, combined with a CCI of 83.91, reflects strong positive momentum but caution against overextension.

In terms of price trends, we see the stock trading just below its VWMA of 755.1, which points to a loss of buying strength. This suggests that SHIVALIK might face resistance at the 758-760 range, which has previously served as a high resistance zone. On the downside, the first strong support appears at 738, followed by 720-740, where the stock could find a cushion if the pullback continues.

The trend over the past five days shows high volatility, with substantial price fluctuations. From a high of 852.10 on December 5th to a low of 738.00 today, this reflects high short-term volatility. Therefore, traders should be cautious, with potential opportunities emerging around support levels for long-term investors while keeping an eye on broader market trends that could influence reversals or further surges.