GE Power India Limited (GEPIL) Stock - Complete Technical Analysis - Aug 30, 2024

GE Power India Ltd Technical Analysis: Bearish Signals

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 of GE Power India Limited (GEPIL) stock. The stock is currently trading at 422, and here's how it shapes up from a technical perspective.

Starting with trend indicators, the Average Directional Index (ADX) is relatively low, indicating a weak trend. The MACD is negative, suggesting a bearish momentum, and the RSI shows the stock is in a neutral range. The Stochastic %K and Stochastic RSI are both in the oversold region, signaling potential buying interest.

Looking at moving averages, the stock is trading below most of its Exponential and Simple Moving Averages, suggesting a bearish trend. The Hull Moving Average and Volume Weighted Moving Average are above the current price, reinforcing this bearish outlook.

Support and resistance levels are critical for trading decisions. Classic Pivot Points indicate the stock is below the Pivot Point, with key support levels at 382.87 and 272.43, and resistance levels at 514.43 and 756.43. The Camarilla Pivot Points suggest immediate support at 471.12 and 448.93, with resistance at 515.48 and 537.67. Fibonacci Pivots place support around 421.99 and resistance at 606.88.

In terms of volatility, the ATR is high, suggesting significant price swings. The candle pattern today is a Spinning Top, which indicates market indecision.

In summary, GEPIL is currently under pressure with bearish indicators and trading below key moving averages. Key support levels to watch are around 382.87, while resistance is substantial at 514.43. Traders should be cautious given the current trend and market signals.