I am not sure if it is possible to take a technical view of a stock that is traded quite thinly and does not give out any clear patterns. We can look at this stock fundamentally. Sumedha is a small financial services company with a market cap of around Rs.14 crore and that makes it a micro cap company. The stock has been in range of Rs.8 in the last one year trading between Rs.15 and Rs.23. The average traded quantity of the stock is about 2500 shares per day in the last two weeks that makes it very narrowly traded stock and hence you need to be cautious about the same. The company does payout a dividend of Rs.1 per share but the operating cash flows are under stress. It is a stock best avoided.