Taj GVK Hotels & Resorts Limited (TAJGVK) Stock - Complete Technical Analysis - Sep 12, 2024

TAJGVK Technical Analysis: Key Support & Resistance Levels Revealed Stock Update September 2024

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.

For Taj GVK Hotels & Resorts Limited (TAJGVK), let's dive into a comprehensive technical analysis based on the current indicators and chart patterns.

Price Levels: The stock is currently trading at 325.35, which is 23.02% below its 52-week high of 422.65, and 52.96% above its 52-week low of 212.7. This indicates a significant recovery from the lows but also highlights a considerable distance from the recent peak.

Support and Resistance: Key support levels are around 319.42, which aligns with various pivot calculations. If the price drops below this level, it could face further support around 300.83 and 270.02. On the upside, resistance levels are seen at 350.23 and 368.82. A breakout above these levels could signal further upside potential.

Moving Averages: The stock's current price is slightly below the 10-day EMA of 326.23 and the 20-day EMA of 324.66, indicating a short-term bearish trend. The price is also just under the 50-day EMA of 326.0. Longer-term moving averages, such as the 100-day EMA (328.1) and the 200-day EMA (314.65), suggest a more neutral to bullish outlook as the stock remains above these averages.

Chart Patterns: Recently, an inside candle pattern was observed, with the parent candle's high at 336.5 and low at 315.0. This pattern signifies a consolidation phase, where the stock traded within this range for three days. It suggests indecision in the market and could indicate potential for a breakout in either direction.

Technical Indicators:

MACD is currently positive, reflecting bullish momentum.

RSI is neutral, around 50.7, indicating neither overbought nor oversold conditions.

ADX is low at 14.04, suggesting a weak trend.

Stochastic %K and Stochastic RSI are in the bullish zone but not yet at extreme levels.

CCI and Williams %R indicate mixed signals, with CCI being slightly negative and Williams %R in a neutral zone.

Awesome Oscillator shows positive momentum, and Bull Bear Power is negative, indicating a cautious outlook.

In summary, TAJGVK is in a consolidation phase with potential for both upside and downside movements. Key support and resistance levels should be monitored closely for any breakout or breakdown signals. The technical indicators present a mixed but cautiously optimistic view.