Sundaram Clayton Limited (SUNCLAY) Stock - Complete Technical Analysis - Sep 12, 2024

"Sundaram Clayton (SUNCLAY) Stock Analysis: Is it Time to Buy or Sell NSE Technical Review"

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. Sundaram Clayton Limited (SUNCLAY) is currently trading at 1,920, which is 6.68% below its 52-week high of 2,057.3 and 59.47% above its 52-week low of 1,203.9. The stock's technical indicators suggest a robust trend, but also potential volatility.

The Average Directional Index (ADX) is at 22.08, indicating a strengthening trend. The Relative Strength Index (RSI) is at 70.01, which is in the overbought territory, signaling that the stock might be due for a short-term correction. The Stochastic %K is at 70.61, and the Stochastic RSI Fast is at 90.81, both suggesting overbought conditions.

The MACD Level is at 18.97, showing a strong bullish momentum. The Awesome Oscillator is at 21.35, confirming the positive momentum. The Commodity Channel Index (CCI) is quite high at 242.33, reinforcing the bullish trend.

The Williams Percent Range (WPR) is at -11.28, indicating overbought conditions, while the Bull Bear Power is at 177.73, which is positive and suggests a strong bullish sentiment. The Ultimate Oscillator is at 46.44, showing a mixed trend.

Moving averages support the current bullish trend, with the stock trading above its Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs). Key levels include the Ichimoku Base Line at 1,810 and the Volume Weighted Moving Average (VWMA) at 1,792.

In terms of pivot points, the Classic Pivot is at 1,788.15, and the stock is trading above this, indicating a positive bias. Key support levels to watch are near 1,616.3 (Classic S1) and 1,488.5 (Classic S2). Resistance levels are at 1,915.95 (Classic R1) and 2,087.8 (Classic R2).

The Average True Range (ATR) is showing some volatility, indicating potential fluctuations in the stock price. Overall, while the stock is currently in a strong bullish trend, traders should be cautious of the overbought signals and potential short-term corrections.