Tatva Chintan Pharma Chem Limited (TATVA) Stock - Complete Technical Analysis - Dec 23, 2024

TATVA: Finding Support Key Levels to Watch

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.

Tatva Chintan Pharma Chem, currently priced at 843, is trading significantly below its 52-week high of 1650 and is attempting to find support near its recent low. The price is trading below its short-term moving averages (10, 20, and 30 EMAs and SMAs), indicating bearish momentum. The 50, 100 and 200 period moving averages are significantly above the current price and will act as strong resistance levels. The Ichimoku Base Line is also above the current price, confirming resistance. The RSI is below 40, signaling weak momentum. The Stochastic oscillator is very low, indicating oversold conditions, which could lead to a short-term bounce. The MACD is negative, confirming the bearish trend. Traders should exercise caution and avoid initiating long positions until a clear trend reversal is observed. A decisive break below the recent low could trigger further selling pressure. A sustained move above the 20-period moving average would be needed to suggest a potential short-term trend reversal.