Tatva Chintan Pharma Chem Limited (TATVA) Stock - Complete Technical Analysis - Sep 12, 2024

Tatva Chintan Pharma Chem Limited Technical Analysis: Support, Resistance, & Key Indicators

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. Technical Analysis of Tatva Chintan Pharma Chem Limited (TATVA)

Current Price: 971.65

The stock is trading approximately 42.42% below its 52-week high of 1687.4 and around 4.23% above its 52-week low of 932.25.

Support and Resistance Levels:

Support Levels: The critical support levels to watch are around 920.77 (Classic Pivot S1) and 881.68 (Classic Pivot S2). The stock has recently tested these lower levels, indicating possible areas of strong buying interest.

Resistance Levels: Key resistance zones are near 1023.97 (Classic Pivot R1) and 1088.08 (Classic Pivot R2). The stock's struggle to break through these levels could suggest significant selling pressure.

Technical Indicators:

MACD: The MACD is in the negative territory, indicating bearish momentum.

RSI: The RSI is around 43, suggesting that the stock is neither overbought nor oversold but is leaning towards the lower side.

ADX: The ADX value of 25.3 indicates a moderately strong trend, though not extremely strong.

Stochastic Oscillator: With the Stochastic %K at 30.58, the stock is in oversold conditions, which might indicate potential for a rebound.

CCI: The Commodity Channel Index is negative, showing that the stock is trading below its average price, suggesting bearish pressure.

Williams %R: At -66.25, this indicator suggests that the stock is in an oversold condition.

MACD Histogram and Awesome Oscillator: Both indicators are negative, reinforcing the bearish sentiment.

Bollinger Bands: The stock's recent price movement within the Bollinger Bands suggests volatility might be increasing.

Moving Averages: The stock is trading below most moving averages, including the 10-day EMA at 974.09 and the 50-day SMA at 1029.19. This indicates a bearish short to medium-term trend.

Ichimoku Base Line: The price is below the Ichimoku Base Line of 990.63, reinforcing bearish momentum.

Chart Patterns:

Spinning Top Candle: The current day's candle is a Spinning Top, which indicates market indecision. This pattern often precedes a potential reversal or consolidation period.

Additional Observations:

ATR: The Average True Range (ATR) values are fluctuating, showing periods of high volatility.

Inside Candle Pattern: The presence of an inside candle pattern on September 11, 2024, suggests a consolidation phase, with the stock trading within the range of the previous day.

In summary, Tatva Chintan Pharma Chem Limited is showing bearish tendencies with key support levels at 920.77 and resistance around 1023.97. The technical indicators suggest that the stock may face further challenges in the short term, although oversold conditions might present a buying opportunity if a reversal occurs. Traders should watch the support levels closely for potential buying signals and resistance levels for selling opportunities.