RattanIndia Enterprises Limited (RTNINDIA) Stock - Complete Technical Analysis - Sep 20, 2024

RattanIndia Enterprises: Bullish Harami & Key Levels to Watch

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. RattanIndia Enterprises Limited is currently trading at 80.52, with strong fundamentals reflected in its low P/E ratio of 9.40 and high ROE of 73.8%. Technically, the stock is forming a bullish harami pattern, indicating potential upward momentum.

Support levels are observed at 78.28, which is the recent low, while resistance is evident at 82.57, the recent high. The stock's performance relative to its 52-week range shows it trading 15.11% below its peak of 94.85 and 66.71% above its low of 48.3, signaling a healthy recovery trend.

Key indicators suggest a mixed outlook; the RSI is near neutral, indicating neither overbought nor oversold conditions. The MACD shows slight bullish momentum, and the Awesome Oscillator is positive, hinting at upward price movements. However, the ADX indicates a weak trend strength, suggesting caution.

Overall, traders should watch for a breakout above 82.57 for a potential upward trend. A close below 78.28 could indicate a bearish reversal. As we move forward, it's crucial to monitor these levels closely.