Rossell India Limited (ROSSELLIND) Stock - Complete Technical Analysis - Sep 02, 2024

Rossell India Limited Stock Analysis: Key Technical Insights and Pivot Points Partha Kuchana - Fi

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. Let's delve into the technical analysis of Rossell India Limited (ROSSELLIND). Currently trading at 591, the stock is showing intriguing technical patterns and indicators.

The Average Directional Index (ADX) is relatively high, indicating a strong trend. The Relative Strength Index (RSI) is near the mid-range, suggesting a balanced market with no strong overbought or oversold conditions. The Stochastic %K and Stochastic RSI are also in the mid-range, reflecting a neutral momentum.

The MACD line is above the signal line, hinting at a bullish trend, while the Commodity Channel Index (CCI) indicates strong bullish momentum. However, the Awesome Oscillator is slightly negative, suggesting some bearish pressure. The Williams Percent Range is in the negative zone, further indicating a potential bearish bias.

The stock is currently trading slightly below its 10-day and 20-day Exponential Moving Averages (EMAs) but above its 30-day and 50-day EMAs, which suggests a mixed short-term outlook. The Ichimoku Base Line is just above the current price, indicating a possible resistance level.

Pivot points reveal key support and resistance levels: the Classic Pivot Point is at 582.83, with resistance levels at 619.32, 671.43, and 760.03, while support levels are at 530.72, 494.23, and 405.63. Camarilla Pivots show resistance at 591.57 and support at 559.08. Fibonacci Pivots also provide resistance at 616.68 and support at 548.99.

The stock pattern observed is a Shooting Star, which often signals a potential bearish reversal. The ATR shows increased volatility, with recent values reflecting higher market fluctuations.

In summary, Rossell India Limited is experiencing mixed technical signals. The stock is trading above its major support levels but faces resistance near the current price level. Traders should be cautious of the bearish reversal pattern and monitor key pivot points for potential breakout or breakdown scenarios.