Tata Teleservices (Maharashtra) Limited (TTML) Stock - Complete Technical Analysis - Sep 19, 2024

Tata Teleservices (Maharashtra) Stock Analysis: Key Support & Resistance Levels Technical Breakdo

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.

In today's technical analysis of Tata Teleservices (Maharashtra) Limited, let's dive into the crucial support and resistance levels and the broader technical picture.

Current Price: 87.1

Support Levels:

The stock is currently trading near significant support zones. Key support levels are at around 88.11 and 79.09. These levels are derived from classic pivot points and are crucial to watch as they could act as strong buying zones if the price approaches these levels.

Resistance Levels:

On the resistance side, the stock faces immediate resistance near the 96.06 mark. If it breaks through this, it could test higher resistance at 105.08 and potentially reach 113.03, which could be a significant hurdle for the stock to overcome.

Technical Indicators:

MACD: The MACD is currently negative, indicating bearish momentum. Watch for any potential crossover for signs of trend reversal.

RSI: With the RSI hovering around 39.14, the stock is in the oversold territory, suggesting potential for a rebound if buying pressure increases.

ADX: The ADX value is relatively low, reflecting weak trend strength, which implies that the stock might be consolidating.

Stochastic Oscillator: The Stochastic %K is at 8.29, indicating that the stock is in the oversold zone, potentially signaling an upcoming bullish phase.

Ichimoku Cloud: The Ichimoku Base Line is at 94.61, which serves as a dynamic resistance level. The stock's current price is below this, reinforcing the bearish trend.

Moving Averages: The stock price is trading below the short-term Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs), suggesting that the short-term trend remains bearish. Key levels to watch are the EMA(50) at 90.71 and EMA(100) at 88.13 for potential trend reversals.

Volume: The Average True Range (ATR) indicates volatility, with recent values showing an increase. This suggests that the stock could experience significant price swings, which traders should be prepared for.

Overall, the technical indicators suggest a cautious outlook. The stock is near key support levels, and while the bearish indicators dominate, the oversold conditions might present an opportunity for a rebound. Keep an eye on the key levels of support and resistance for potential trading signals.