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SJVN Limited (SJVN) Stock - Complete Technical Analysis - Dec 13, 2024
SJVN Stock Analysis: Key Support & Resistance Levels for Traders Technical Insights for 2024
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. SJVN Limited's stock price has been fluctuating recently, with the current price at 118.06. This level is significantly below its 52-week high of 170.5, but still well above the 52-week low of 81.05. The stock shows moderate volatility with fluctuations within the 1-2% range, pointing towards some indecision in the market.
From a technical perspective, the Relative Strength Index (RSI) is sitting at a neutral level, implying the stock is neither overbought nor oversold, which leaves room for price movement in either direction. The MACD shows positive momentum, which could lead to an upward push if the stock breaks certain resistance levels.
The price seems to be consolidating near its 10-day and 20-day EMAs, indicating a pause before potential movement. Key support is found around the 115-116 zone, which has been a recent low. Resistance levels are near 120-122, with 122 acting as a significant point. The presence of indecision candlesticks like the Doji and Spinning Top suggests traders should remain cautious and wait for a clear breakout to the upside or downside.
For traders, the key price levels to monitor are the 115-116 support zone and the 120-122 resistance range. A breakout above the 122 mark could signal a short-term bullish trend, while a break below 115 could lead to a further decline. With ATR showing consistent volatility, traders should prepare for potential price swings in either direction, with careful attention to the stock's next move.
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