Rallis India Limited (RALLIS) Stock - Complete Technical Analysis - Sep 20, 2024

Rallis India Technical Analysis: Bullish Patterns Amidst Bearish Trends

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. Welcome to the technical analysis of Rallis India Limited, currently trading at 322. The stock shows a P/E ratio of 47.4 and a book value of 94.1. While the dividend yield is modest at 0.78%, ROCE stands at 11.2%, and ROE at 8.30%.

Examining the technical indicators, the Average Directional Index (ADX) suggests weak trend strength, positioned at 15.47. The Relative Strength Index (RSI) is at 40.38, indicating that the stock is approaching the oversold territory. The Stochastic %K is at 18.27, confirming bearish momentum, while the MACD is below zero, reinforcing the downtrend. The Awesome Oscillator and Williams Percent Range are both negative, indicating a bearish sentiment in the market.

From a price action perspective, we've observed a Shooting Star pattern, which is a bearish reversal signal, and a Bullish Harami pattern suggesting potential buying interest. However, the stock has also shown an Inside Candle pattern recently, indicating indecision among traders.

Support levels can be identified around 325, with S1 pivot level at 325.4, while significant resistance is found at the 350 mark. The stock is currently trading 13.64% below its 52-week high of 373.2 and 57.14% above its 52-week low of 205.1, reflecting its volatility.

Overall, Rallis India Limited is showing mixed signals. Traders should watch the price action closely around the identified support and resistance levels for potential trading opportunities.