TTK Prestige Limited (TTKPRESTIG) Stock - Complete Technical Analysis - Sep 20, 2024

Bearish Signals in TTK Prestige: Technical Analysis and Trading Insights

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 TTK Prestige Limited, currently priced at 902.45, we observe several key indicators and patterns. The stock has experienced a bearish Harami pattern, indicating potential selling pressure. With a P/E ratio of 53.5 and a book value of 149, the valuation appears high, warranting caution.

The RSI is currently at 44, suggesting the stock is nearing oversold territory, while the MACD indicates a bearish trend with a negative reading. The Average Directional Index (ADX) shows a low value, reflecting weak trend strength. Notably, the stock is trading below several moving averages, including the 10, 20, and 50-period EMAs, which further supports the bearish outlook.

Support is identified around 901.63 (S1) and 864.92 (S2), while resistance is at 963.32 (P) and 1000.03 (R1). With the stock currently 11.96% below its 52-week high and 39.45% above its low, traders should watch for further developments in price action, especially given the inside candle pattern observed recently. A close below support could signal a further decline, while a rebound might provide a buying opportunity.