Marine Electricals (India) Limited (MARINE) Stock - Complete Technical Analysis - Sep 13, 2024

Marine Electricals (MARINE) Stock Analysis: Key Support & Resistance Levels You Need to Know

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.

Marine Electricals (India) Limited (MARINE) is currently trading at 245. The technical indicators show a generally bearish trend. The MACD is below the signal line, suggesting that the stock may face further downside. Additionally, the Awesome Oscillator and the Williams Percent Range indicate that the stock is in a bearish phase. The RSI is in neutral territory, implying that the stock is neither overbought nor oversold.

Resistance levels are evident near 270, with the Exponential and Simple Moving Averages converging around this range. A break above this level could see the stock testing higher resistance levels, potentially reaching towards the 308 mark, which is the 52-week high. On the downside, the stock finds support around the 245 level, with additional support potentially around 230 and 205 based on historical price movements and pivot points.

The current Spinning Top candlestick pattern reflects indecision in the market, suggesting caution as the stock might be consolidating or preparing for a potential reversal. With the ADX showing a weakening trend, monitoring the stock's behavior around these key levels will be crucial for making informed trading decisions.