India Nippon Electricals Limited (INDNIPPON) Stock - Complete Technical Analysis - Sep 02, 2024

India Nippon Electricals Limited (INDNIPPON) Stock Analysis Support, Resistance

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. India Nippon Electricals Limited (INDNIPPON) is currently trading at 797.25, positioned about 8% below its 52-week high of 867, and approximately 72.5% above its 52-week low of 462. To assess its technical health, we can analyze various indicators and chart patterns.

Support levels are likely around the 791 to 768 range, based on Camarilla and Fibonacci pivots. The stock faces resistance around 804 to 813, with additional resistance at higher levels of 851 and 865. The Exponential Moving Averages (EMA) suggest a mixed signal with the 10-day EMA at 799.87 being slightly above the current price, indicating near-term resistance, while longer-term EMAs are below, signaling potential support.

Key momentum indicators like the MACD level are positive, suggesting bullish momentum, while the RSI is close to neutral, indicating neither overbought nor oversold conditions. The ADX reading suggests a weak trend, implying that the current price movement may lack strong directional momentum.

Chart patterns show that the price is above the 200-day Simple Moving Average, indicating a long-term uptrend, but it is struggling near the 50-day SMA, which could act as resistance. The Average True Range (ATR) points to moderate volatility, suggesting that price swings might be significant but not extreme.

Overall, traders should watch for price action around key pivot levels and EMA crossings for potential trade opportunities. The stock's position relative to these levels and indicators will be crucial for short-term trading decisions.