Mahanagar Telephone Nigam Limited (MTNL) Stock - Complete Technical Analysis - Sep 13, 2024

"MTNL Technical Analysis: Key Support & Resistance Levels, Chart Patterns, & More"

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 Mahanagar Telephone Nigam Limited (MTNL), the stock is currently trading at 59.3. The analysis indicates that the stock is experiencing a phase of moderate stability and mixed signals. The Average Directional Index (ADX) suggests a low trend strength, pointing to a possible sideways movement. The Relative Strength Index (RSI) is near neutral, showing neither strong overbought nor oversold conditions.

The Stochastic Oscillator is in the lower range, indicating potential for upward movement, while the Stochastic RSI is mid-range, reflecting moderate momentum. The MACD is below zero, signaling bearish momentum, but the Awesome Oscillator is negative, suggesting a weakening bullish trend.

Price action is currently close to its Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs), which indicates that the stock is in a consolidation phase. The Marubozu candle pattern observed today reflects strong momentum in one direction, suggesting a short-term trend might continue.

Support levels are closely aligned with recent lows and classic pivot points. Immediate support can be found near 51.0, with further support at 41.68. Resistance levels are marked at 75.6 and beyond. As the stock is trading significantly below its 52-week high and well above its 52-week low, traders should watch for potential breakout or breakdown around these levels.