Rane Holdings Limited (RANEHOLDIN) Stock - Complete Technical Analysis - Sep 02, 2024

Rane Holdings Limited Technical 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.

Technical Analysis for Rane Holdings Limited (RANEHOLDIN)

Rane Holdings Limited is currently trading at 2,008. Let's delve into the technical aspects and key indicators of this stock.

Support and Resistance Levels:

Support Levels: The stock has significant support around 1,640.2 (Classic Pivot S1) and 1,285.0 (Classic Pivot S2). Other key supports include 1,715.0 (Woodie Pivot S1) and 1,322.4 (Woodie Pivot S2).

Resistance Levels: Major resistance levels are at 2,212.8 (Classic Pivot R1) and 2,430.2 (Classic Pivot R2). Additional resistances can be seen at 2,287.6 (Woodie Pivot R1) and 2,467.6 (Woodie Pivot R2).

Technical Indicators:

MACD: The MACD line is above the signal line, indicating bullish momentum.

RSI: The RSI is in the overbought zone, suggesting that the stock might be due for a pullback.

ADX: A high ADX value indicates a strong trend; however, since it's combined with the RSI in overbought territory, caution is advised.

Stochastic %K and Stochastic RSI: Both are in the overbought zone, reinforcing the potential for a correction.

Awesome Oscillator: Positive values suggest bullish momentum.

Williams %R: The value is in the overbought range, suggesting potential selling pressure.

ATR: The stock's volatility is relatively high, as indicated by recent ATR values.

Moving Averages:

Exponential Moving Averages (EMAs): The stock is trading above the 10-day, 20-day, 30-day, 50-day, 100-day, and 200-day EMAs, indicating a strong uptrend.

Simple Moving Averages (SMAs): Similar to EMAs, the stock is also above all key SMAs, further confirming the bullish trend.

Ichimoku Base Line: Above the Ichimoku Base Line, which is a positive sign of the current trend.

Pivot Points:

Classic Pivot Points: The stock is currently above the Classic Pivot Point, suggesting a bullish sentiment.

Camarilla and Fibonacci Pivots: All pivots indicate a bullish outlook, with critical resistances at higher levels.

Chart Patterns:

Spinning Top Candle: The presence of a spinning top candle indicates indecision in the market. This pattern suggests that a potential reversal or consolidation could be on the horizon.

Inside Candle Pattern: The stock traded within a range recently, indicating a possible consolidation phase.

Summary:

Rane Holdings Limited is currently showing a strong bullish trend, supported by its position above key moving averages and positive indicators like the MACD and Awesome Oscillator. However, the high RSI and Stochastic values suggest that the stock might be overbought, and a pullback could be imminent. Watch for potential resistance levels around 2,212.8 and 2,430.2, and support around 1,640.2 and 1,285.0.