Sheela Foam technical analysis

According to the latest Pivot data, Sheela Foam’s immediate technical levels for the selected time period 5 minutes indicate key support and resistance zones that traders should closely monitor. The pivot point is positioned at ₹616.67, serving as the central reference for market sentiment. On the upside, the stock faces resistance near ₹631.34, ₹657.67, and ₹672.34, which may act as potential barriers to further price appreciation. On the downside, support levels are observed around ₹590.34, ₹575.67, and ₹549.34, offering possible rebound zones in case of a correction. These levels are crucial for traders looking to identify entry, exit, or reversal points in Sheela Foam’s price movement.