Ingersoll Rand (India) Limited (INGERRAND) Stock - Complete Technical Analysis - Sep 20, 2024

Ingersoll Rand: Technical Analysis and Key Levels Revealed

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.

Ingersoll Rand (India) Limited is currently trading at 4,066, which is a notable 18.59% below its 52-week high, suggesting a potential for recovery. The stock exhibits a high P/E ratio, indicating it may be overvalued based on current earnings. The RSI points to an oversold condition, while the MACD indicates bearish momentum, suggesting traders should approach with caution.

Recent price action reveals an inside candle pattern, hinting at indecision among traders. This pattern shows a parent high at 4,191.25 and a low at 4,053.05, where the stock has traded within this range for two days. Key support is identified around 4,050, while resistance is noted at 4,190.

The Average Directional Index indicates weak trend strength, further confirming the current uncertainty in the market. The Stochastic oscillator also suggests that the stock is heavily oversold, which may lead to a reversal if buying pressure increases. Overall, traders should keep a close eye on these key levels to make informed decisions.