New Delhi Television Limited (NDTV) Stock - Complete Technical Analysis - Sep 02, 2024

NDTV Stock Analysis: Bearish Momentum with Potential Reversal 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.

New Delhi Television Limited (NDTV) is currently trading at 203, which places it 34.06% below its 52-week high and 9.11% above its 52-week low. The stock has shown a significant downtrend in recent months, reflected in the various technical indicators. The RSI indicates that the stock is in the lower end of the neutral zone, suggesting limited momentum for an immediate upward reversal. The MACD level is negative, indicating bearish momentum, while the ADX is low, showing a lack of strong trend direction.

The stock's moving averages further confirm the bearish sentiment. NDTV is trading below its 10-day, 20-day, 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), with each successive moving average lying higher than the current price, signaling strong resistance levels ahead. This downward pressure is further highlighted by the Awesome Oscillator, which is also negative, reinforcing the bearish outlook.

However, the presence of a Bullish Harami pattern suggests the possibility of a short-term reversal, especially considering the Spinning Top candle formation observed today, which indicates market indecision. Traders should watch for potential support around the 186-192 zone, derived from various pivot points, where buyers might step in. On the upside, immediate resistance is likely around 214-218, which corresponds to the 50-day EMA and the upper pivot levels.

In summary, while NDTV is currently in a bearish phase, the presence of bullish patterns and low ADX could signal an upcoming consolidation or minor reversal. Traders should be cautious, keeping an eye on the support and resistance levels mentioned for potential trading opportunities.