Swaraj Engines Limited (SWARAJENG) Stock - Complete Technical Analysis - Sep 12, 2024

Swaraj Engines Limited (SWARAJENG) Stock Analysis: Key Support, Resistance, and Trend Insights

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. Swaraj Engines Limited (SWARAJENG) is currently trading at 3,289, showing a 5.20% drop from its 52-week high of 3,470 and a 71.47% increase from its 52-week low of 1,918. The stock's recent price action reveals that it has been moving within a range after hitting a high of 3,404.55 and a low of 3,260 on September 9, 2024, indicating some consolidation.

Technical Indicators:

MACD is currently high, suggesting strong bullish momentum, while the Stochastic RSI is very low, indicating potential oversold conditions.

RSI is at a moderate level, reflecting neutral market sentiment.

ADX is indicating a strong trend, with the Average Directional Index (ADX) above the 20 mark, confirming the strength of the current trend.

Awesome Oscillator is positive, suggesting that the bullish momentum is in play.

Commodity Channel Index (CCI) is around neutral levels, while Williams Percent Range is in the oversold zone, which could signal a potential buying opportunity if the stock price turns upwards.

Bull Bear Power is slightly negative, indicating that the bears have a slight edge but not enough to drive a significant downward move.

Moving Averages:

The stock is currently trading above the short-term Exponential Moving Averages (EMAs) of 10 and 20 days but below the longer-term EMAs and Simple Moving Averages (SMAs), which might indicate a recent trend shift or consolidation.

The price is above the Hull Moving Average, which supports the bullish trend in the short term.

The Ichimoku Base Line suggests that the stock is trading above its base level, supporting a positive outlook in the short term.

Chart Patterns:

Today's candle is a Spinning Top, reflecting indecision in the market. This pattern indicates that traders are uncertain about the future direction of the stock, so be cautious of potential volatility.

Volatility:

The Average True Range (ATR) shows significant volatility over recent periods, suggesting that traders should be prepared for potential swings in the stock price.

Support and Resistance Levels:

Support: Key levels to watch are the recent lows and the Fibonacci support around 3,001.29.

Resistance: The stock might face resistance near the recent high of 3,470 and the pivot points calculated from various methods.

Overall, SWARAJENG appears to be in a consolidation phase with mixed signals from different indicators. Traders should watch for confirmation of a breakout from the current range or a potential reversal if the price starts moving towards key support levels.