GE Power India Limited (GEPIL) Stock - Complete Technical Analysis - Sep 13, 2024

GE Power India (GEPIL) Stock Analysis: Key Support, Resistance & Technical Insights NSE Update

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.

GE Power India Limited (GEPIL) Technical Analysis:

Currently trading at 414, GEPIL shows a mixed technical picture. The stock is significantly below its 52-week high of 646, suggesting a downtrend. However, it's also well above its 52-week low of 158, indicating a strong recovery from past lows.

Support and Resistance Levels:

Immediate support is seen around 384.18, which aligns with the Classic Pivot S1 and Camarilla Pivot S1. If the stock breaks below this level, it may test further support at 346.22 (Classic Pivot S2).

Resistance levels are clustered around 489.03 (Classic Pivot R1) and 433.1 (Exponential Moving Average 30). A breakout above these levels could push the stock towards higher resistance around 555.92 (Classic Pivot R2).

Technical Indicators:

MACD: Currently negative, indicating bearish momentum.

RSI: At 42.26, this suggests the stock is in a neutral to oversold condition.

ADX: At 17.28, the trend strength is weak, indicating indecision in the market.

Stochastic %K: At 23.46, this is in the oversold zone, suggesting potential for a reversal.

Moving Averages: The stock price is near its 10-day EMA, indicating short-term support. Longer-term MAs (50-day and 200-day) are higher, suggesting potential resistance.

Average True Range (ATR): The ATR of around 38.77 indicates moderate volatility.

Chart Patterns:

The stock is trading below its Exponential Moving Averages, which could indicate a bearish trend if it fails to recover above these averages.

The stock's current position suggests it is struggling with resistance levels, and the trend remains uncertain with weak directional indicators.

In summary, GEPIL is currently navigating through a challenging phase with resistance levels to watch closely. Traders should monitor support levels for potential buying opportunities and keep an eye on resistance levels for signs of a breakout or continued decline.