CRISIL Limited (CRISIL) Stock - Complete Technical Analysis - Sep 25, 2024

CRISIL Limited Technical Analysis: Key Levels 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 todays analysis, we focus on CRISIL Limited, currently trading at 4547. This stock is displaying some interesting technical signals. The ADX stands at 31.72, indicating a strong trend, while the RSI is at 46.22, suggesting that the stock is nearing neutral territory and could see movement in either direction. The Stochastic oscillator is currently at 38.89, further supporting a potential upward bounce.

On the moving average front, the stock is trading above its key exponential moving averages, including the 10-day and 20-day EMAs, both of which are at 4629.65 and 4609.67 respectively. However, the presence of a bearish engulfing pattern indicates some caution, suggesting that sellers may have taken control recently, particularly as the price closed lower than the previous day.

Support levels are identified around the classic pivot point of 4430.75, while the significant resistance level lies at 4713.8. Given that the stock is currently 13.70% below its 52-week high of 5268.5, traders should closely monitor price action around these levels. The stocks current position reflects a potential for a corrective phase, with downward pressure being evidenced by the bearish engulfing pattern.

Overall, traders should remain vigilant for any breakout past resistance, as well as a move towards support that could trigger further downward movement. Staying informed about these key indicators will be crucial for making informed trading decisions in the coming days.