Tilaknagar Industries Limited (TI) Stock - Complete Technical Analysis - Dec 20, 2024

TI: Approaching Resistance - Breakout or Pullback

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.

Tilaknagar Industries (TI), currently trading around 418, is slightly below its 52-week high of 444 and considerably above its 52-week low of 182. The stock is trading above its key moving averages (10, 20, 30, 50, 100 and 200 day EMAs and SMAs), indicating an overall uptrend. The RSI is around 65, suggesting positive momentum, though approaching overbought levels. The MACD is positive, confirming the bullish sentiment. The ADX is above 40, indicating a strong trend. Traders should monitor for a decisive break above the recent high around 422-425 which could open up further upside. Support can be found in the 400-405 zone, where the 10 and 20 day moving averages are converging. While the overall trend is bullish, the RSI approaching overbought territory warrants some caution. Traders should consider waiting for a potential pullback to support levels for better entry points. A break below the support zone could signal a weakening of the current uptrend.