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.
Entertainment Network (India) Limited (ENIL) is currently trading at 204. The stock shows a mixed technical picture with several indicators suggesting potential volatility. The RSI indicates a neutral to bearish momentum, while the MACD and Stochastic indicators show weak bearish signals. Support levels are identified around 193, with potential additional support near 174. Resistance is likely to be met near the 220 level, with further resistance expected around 266.
The stock is trading below its key moving averages and Ichimoku Base Line, which may act as resistance levels. The Average Directional Index (ADX) suggests a weak trend, indicating a range-bound movement. Traders should be cautious and look for confirmation from price action before making any significant trades.
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