Hind Rectifiers Limited (HIRECT) Stock - Complete Technical Analysis - Sep 13, 2024

Hind Rectifiers (HIRECT) Stock Analysis: Inside Candle Pattern & Key Levels to Watch

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.

Hind Rectifiers Limited (HIRECT) is currently trading at 878, which is 13.25% below its 52-week high and 163.78% above its 52-week low. The technical outlook for HIRECT shows a mixed picture. The RSI is near neutral, indicating that the stock is not in overbought or oversold territory. However, the MACD is in positive territory, suggesting a bullish trend, while the Awesome Oscillator also supports this bullish view with a positive reading.

Recent price action includes an Inside Candle pattern, which could signal consolidation. The stock has been trading within a range of 870 to 910, indicating possible indecision in the market. Resistance levels are likely around the higher end of this range, near 910, while support might be found closer to 870.

The ADX suggests a moderately strong trend, which is confirmed by the stock trading above several key moving averages, including the EMA and SMA. The Commodity Channel Index and Williams Percent Range indicate that the stock is in an oversold condition, which might present a buying opportunity if a reversal occurs. Traders should monitor these levels closely for any signs of a breakout or a further consolidation phase.