Thirumalai Chemicals Limited (TIRUMALCHM) Stock - Complete Technical Analysis - Sep 12, 2024

Thirumalai Chemicals Stock Analysis Key Support, Resistance & Technical 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.

For Thirumalai Chemicals Limited (TIRUMALCHM), currently trading at 328.50, the technical outlook reveals some critical insights.

Price Levels & Trend: The stock is trading approximately 9.47% below its 52-week high of 362.85, indicating that it is currently in a correction phase. It is 74.13% above its 52-week low of 188.65, showing strong relative strength over the past year.

Support & Resistance: Key support levels to watch are around 308.15, 279.65, and 223.8. Resistance levels are evident at 364.0, 391.35, and 447.2. Given the current price, the immediate support and resistance are crucial for short-term trading decisions.

Moving Averages: The stock's price is below the short-term and medium-term moving averages but above the long-term averages. The 10-day and 20-day EMAs are slightly higher than the current price, suggesting potential resistance around these levels. Conversely, the longer-term EMAs, such as the 100-day and 200-day, are lower, indicating that the stock has a stronger historical support zone.

Technical Indicators:

MACD: The MACD is currently positive, indicating bullish momentum, although its level suggests that the upward momentum might be waning.

RSI: With the RSI at around 48.85, the stock is neither overbought nor oversold, indicating a neutral position.

ADX: The ADX at 16.64 reflects a weak trend, suggesting that the stock might be in a consolidation phase.

Stochastic Indicators: Both the Stochastic %K and Stochastic RSI are in oversold territory, which might indicate a potential reversal or bounce.

CCI & Awesome Oscillator: The Commodity Channel Index and Awesome Oscillator are negative, signaling bearish momentum.

Chart Patterns: Recent patterns include a Doji and Spinning Top, indicating indecision in the market. This could mean potential volatility or a reversal point.

Volatility: The Average True Range (ATR) is elevated, reflecting high volatility. Traders should be cautious and ready for significant price swings.

In summary, Thirumalai Chemicals Limited is currently facing some resistance and potential consolidation, with a mix of bullish and bearish indicators. Traders should keep an eye on support and resistance levels and be cautious of market volatility.