Tata Investment Corporation Limited (TATAINVEST) Stock - Complete Technical Analysis - Sep 18, 2024

Tata Investment Corporation (TATAINVEST) Stock Analysis - Technical Insights & Key Levels for Trad

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. Let's dive into the technical analysis for Tata Investment Corporation Limited (TATAINVEST) stock.

Current Price & Key Observations:

The stock is currently trading at 6,758, which is approximately 30.73% below its 52-week high of 9,756.85 and 174.59% above its 52-week low of 2,461.15.

Support and Resistance Levels:

Support Levels: Significant support is seen around the 6,000 mark, as indicated by the classic pivot support level S1. Further support can be found around 5,800 and 5,500, considering the 52-week low and previous low points.

Resistance Levels: Immediate resistance is at around 7,000, which aligns with the classic pivot point and the 10-period EMA. Additional resistance can be expected around 7,500 and 8,000 based on historical price action and pivot levels.

Technical Indicators:

MACD: The MACD line is above the signal line, suggesting a potential bullish phase. However, the histogram is showing a weakening trend.

RSI: The Relative Strength Index (RSI) is currently at a neutral level, indicating neither overbought nor oversold conditions. Watch for a move above 70 for potential overbought signals.

ADX: The Average Directional Index (ADX) is moderate, indicating a possible trend but not very strong.

Stochastic & Stochastic RSI: The Stochastic %K is extremely low, suggesting that the stock is in an oversold condition, which could signal a potential bounce. The Stochastic RSI is also at the lower end, confirming the oversold scenario.

Awesome Oscillator: The Awesome Oscillator shows positive momentum, indicating a potential bullish phase.

Williams %R: Extremely low, reinforcing the oversold condition and potential for a bounce.

Bollinger Bands: The price is trading near the lower band, suggesting the stock might be oversold and could see some upward movement.

Moving Averages:

Short-Term MAs: The stock is currently below the 10-period and 20-period MAs, indicating a bearish short-term trend.

Long-Term MAs: The 50, 100, and 200-period MAs are showing a strong upward trend, suggesting overall bullish sentiment over the longer term.

Pivot Points:

The Classic Pivot Point is around 7,069, providing a central reference for current price action. Resistance levels are at 8,288, while supports are around 6,064.

Chart Patterns & Observations:

The stock is experiencing a consolidation phase with a potential breakout scenario. If the price breaks above the resistance levels, it could see further gains. Conversely, a drop below the support levels could lead to further declines.

In summary, Tata Investment Corporation Limited (TATAINVEST) is currently in a consolidation phase with key support at around 6,000 and resistance around 7,000. Technical indicators suggest an oversold condition with potential for a bounce, though the overall trend is influenced by longer-term bullish moving averages.