Schaeffler India Limited (SCHAEFFLER) Stock - Complete Technical Analysis - Dec 13, 2024

Schaeffler India Technical Analysis Key Support & Resistance Levels Price Trends & Indicators

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. Schaeffler India Limited (SCHAEFFLER) stock is currently trading at 3,580, showing a 27.69% decline from its 52-week high of 4,951 and a 30.50% increase from its 52-week low of 2,743.5, suggesting a range-bound price action over the past year. Recently, the stock has exhibited volatility, with intraday fluctuations seen on Dec 13, 2024, where it opened at 3,630 and fell to a low of 3,524 before closing at 3,580. Despite these fluctuations, the stock remains in a consolidation phase, with no major breakout or breakdown.

On the technical front, the stock's Relative Strength Index (RSI) at 49.32 indicates neutral momentum, while the Stochastic RSI at 83.07 suggests that the stock could be nearing overbought conditions. The MACD at 13.99 indicates a mild bullish trend but is showing signs of weakening.

Support is observed at 3,524, and further weakness could lead to testing the 3,400 level. Resistance lies at 3,650, with the next key level near 3,6903,700. The stock's Exponential Moving Averages (EMAs) are clustered around 3,580 to 3,640, indicating that the stock is likely to stay within this range unless a clear breakout occurs. The ADX of 20.02 suggests weak trending conditions, signaling that the stock may continue to trade sideways unless it breaks one of the key levels.

Traders should watch for a potential reversal if the stock tests support or resistance zones. A break below 3,524 could signal a further downside, while a break above 3,650 could lead to bullish momentum. The Awesome Oscillator and Commodity Channel Index (CCI) both suggest some bullish strength, but it's not strong enough to indicate an imminent breakout.

In summary, Schaeffler India Limited's stock is in a consolidation phase, and traders should be cautious and monitor key levels before taking any major positions. Watch the support at 3,524 and resistance at 3,650 to determine the next direction.