Technical Analysis Schaeffler India Ltd

The stock i is

currently in a broad consolidation phase. It isn't in a clear upward rocket mode or a downward spiral. Instead it is bouncing between two major levels. The Resistance Around 4400 – 4600. Every time it gets near here, sellers push it back down. The Support Around 2800 – 3000. This is where buyers usually step in to prevent further falls. It recently had a sharp dip toward 3500 and has since managed a small recovery (a relief rally). Buyers it’s better to wait for the stock to either settle near the 3500 support with a bounce or wait for a strong breakout above 4000 with high volume. Holders as long as it stays above 3500 there is no immediate reason to panic but the growth looks slow for now. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.