Timken India Limited (TIMKEN) Stock - Complete Technical Analysis - Sep 18, 2024

Timken India Limited (TIMKEN) Stock Analysis: Key Support, Resistance & Indicators Explained

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.

Technical Analysis of Timken India Limited (TIMKEN)

The current price of Timken India Limited is 3,759. The stock shows mixed technical signals based on various indicators.

Support and Resistance Levels:

Support Levels: The immediate support can be observed around 3,743, marked by the Ichimoku Base Line and close to the 10-day Exponential Moving Average (EMA). Further support is evident near 3,665, corresponding to the 50-day Simple Moving Average (SMA) and the Camarilla Pivot S1 level.

Resistance Levels: The primary resistance is at approximately 3,818, aligning with recent high and the 20-day EMA. A secondary resistance level can be found near 3,820, which corresponds to the 30-day EMA.

Technical Indicators:

MACD: The MACD is showing a bearish signal, indicating downward momentum.

RSI: The RSI is in the neutral zone, suggesting neither overbought nor oversold conditions.

ADX: The ADX is low, which indicates a weak trend.

Stochastic Indicators: The Stochastic %K is in the neutral range, while the Stochastic RSI Fast is relatively high, suggesting some bullish potential.

Moving Averages: The price is trading below the 50-day and 100-day SMAs, which might indicate a bearish trend. However, it is above the 200-day SMA, signaling long-term strength.

Chart Patterns:

Inside Candle Pattern: An inside candle pattern was observed on 17th September 2024, with a range of 3,725 to 3,818. This pattern suggests consolidation and potential for a breakout in either direction.

In summary, Timken India Limited is showing mixed technical signals. Traders should watch for potential breakout points around the resistance levels or potential breakdowns near the support levels. The presence of the inside candle pattern suggests a period of consolidation, which may lead to significant price movement in the near future.