ITI Limited (ITI) Stock - Complete Technical Analysis - Sep 18, 2024

ITI Limited Stock Analysis: Bearish Trend & Key Support/Resistance Levels NSE 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. Let's take a closer look at ITI Limited, currently trading at 284. The stock is trading 25.98% below its 52-week high of 384.3, reached in mid-January, and is 64.85% above its 52-week low of 172.55 from September of last year.

From a technical standpoint, ITI Limited is showing signs of weakness. The RSI is in a neutral zone, suggesting that the stock is neither overbought nor oversold. However, the MACD is in negative territory, indicating that bearish momentum might be in play. The Stochastic %K and Stochastic RSI are also in the lower range, which typically signals potential bearish conditions.

The ADX value is relatively low, indicating a weak trend, which aligns with the stock's current downtrend. The stock is trading below its short-term moving averages, including the 10, 20, and 30-day EMAs, which suggests bearish momentum. The Hull Moving Average is currently above the stock price, further confirming resistance.

Immediate support is expected around the 280 to 270 range, while resistance is likely near the 295 to 310 range. Traders should be cautious of these levels and consider them when planning their trades, as they will be critical for understanding potential price movements and managing risk.

In summary, ITI Limited appears to be in a bearish phase with potential for support around the lower levels and resistance at higher points. Keeping an eye on these levels will be crucial for making informed trading decisions.