The New India Assurance Company Limited (NIACL) Stock - Complete Technical Analysis - Sep 17, 2024

NIACL Stock Analysis: Key Support & Resistance Levels Inside Candle Pattern Insights

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. The New India Assurance Company Limited (NIACL) is currently trading at 240, which is significantly below its 52-week high and shows strong support at this level. The stocks recent performance indicates a bearish trend with negative readings on MACD, Bull Bear Power, and Awesome Oscillator. Additionally, the RSI and Stochastic indicators suggest that NIACL may be oversold, which could signal potential buying opportunities in the near term.

Support for NIACL is visible around the 230 mark, with additional support near 220. Resistance is likely to be encountered around 250, which is close to the recent high of 249.50 from an inside candle pattern observed on September 11, 2024. This pattern indicates that the stock has been trading within a range of 236.25 to 249.50, and a breakout from this range could determine the next significant price movement. Given the current bearish momentum, traders should watch for a potential breakout or a reversal around these key levels.