SUMICHEM - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 4.3

Here’s a detailed technical analysis of Sumitomo Chemical India Ltd. (SUMICHEM)

📊 Trend Overview

Current Trend: Strong Uptrend with Overbought Signals

Price is above both 50-DMA (₹547) and 200-DMA (₹521) — confirms bullish momentum.

RSI (67.4) — nearing overbought zone, but still bullish

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MACD (18.9) — strongly positive, indicating sustained upward momentum.

Volume: Well above 1-week average — confirms strong buying interest.

📈 Chart Patterns & Indicators

Moving Averages

Price > 50-DMA and 200-DMA → bullish structure.

Golden crossover already in play.

Bollinger Bands

Price near upper band — strong momentum, but watch for volatility.

Support Levels

₹580 – ₹590 (recent breakout zone)

₹547 (50-DMA)

₹521 (200-DMA)

Resistance Levels

₹628 (52-week high)

₹640 – ₹655 (projected extension zone)

🔍 Momentum Signals

Short-Term Bias: Bullish with caution

RSI approaching 70 — momentum strong but nearing overbought.

MACD confirms trend continuation.

Volume Trend: Surging — strong accumulation phase.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Buy Entry ₹580 – ₹605 Breakout zone with volume support

Exit Target ₹628 – ₹655 Resistance at 52-week high & extension zone

Stop Loss ₹565 Below breakout and trendline support

🧠 Summary

SUMICHEM is in a strong uptrend, supported by bullish indicators and volume confirmation. While RSI suggests caution near overbought levels, the momentum remains intact. A tactical entry near ₹580–₹605 could offer a short-term swing toward ₹628–₹655. Traders should monitor RSI and volume for signs of exhaustion or reversal.

Want to compare SUMICHEM with other agrochemical stocks or explore sector rotation strategies? I’ve got plenty of insights to help you stay ahead.

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