TVS Srichakra Limited (TVSSRICHAK) Stock - Complete Technical Analysis - Sep 11, 2024

TVS Srichakra Technical Analysis: Key Support, Resistance & Indicators September 2024 Update

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.

TVS Srichakra Limited (TVSSRICHAK) Technical Analysis

Currently, TVS Srichakra is trading at 4,400, approximately 13.66% below its 52-week high of 5,097 and 51.01% above its 52-week low of 2,914. The stock's P/E ratio stands at 33.0, while the dividend yield is 1.08%. The company shows a book value of 1,455 and a ROCE of 10.8%, with an ROE of 10.2%.

Support and Resistance Levels:

Support Levels: The immediate support level is around 4,156 (Classic Pivot S1) and 4,473 (Camarilla Pivot S2). Below these, the stock might find additional support near 3,685 (Fibonacci Pivot S3).

Resistance Levels: Key resistance is at 4,999 (Classic Pivot R1) and 4,705 (Camarilla Pivot R1). The stock could face further resistance at 5,371 (Classic Pivot R2) and 5,049 (Fibonacci Pivot R2).

Technical Indicators:

MACD: The MACD is currently above the signal line, indicating a bullish trend.

RSI: The RSI is in the neutral zone, suggesting neither overbought nor oversold conditions.

ADX: The ADX is above 20, reflecting a moderate trend strength.

Stochastic Indicators: Both the Stochastic %K and Stochastic RSI indicate a potential oversold condition, suggesting the stock might be poised for a rebound.

Moving Averages: The stock is trading below the 10-day and 20-day EMAs, indicating a short-term bearish trend. However, it remains above the longer-term 100-day and 200-day EMAs, which is a bullish signal.

Ichimoku Base Line: This line is near 4,478, which aligns closely with the stock's current price, indicating potential support.

Volume Weighted Moving Average: The stock is trading below the VWMA of 4,549, suggesting weaker momentum.

Chart Patterns:

Inside Candle Pattern: On September 9, 2024, the stock formed an inside candle pattern with a high of 4,477.15 and a low of 4,351. This pattern, coupled with recent trading within this range, could signal a consolidation phase or potential breakout.

Volatility:

The Average True Range (ATR) has shown recent increases, indicating higher volatility and potential for significant price swings.

In summary, TVS Srichakra is experiencing a period of consolidation with potential support at lower levels and resistance at higher levels. The technical indicators suggest a mixed outlook, with some bullish signs from MACD and moving averages, but caution is warranted due to the oversold stochastic indicators and rising volatility.