CIE Automotive India Limited (CIEINDIA) Stock - Complete Technical Analysis - Sep 27, 2024

Technical Analysis of CIE Automotive India Limited: Key Support and Resistance Levels

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. Analyzing CIE Automotive India Limited's stock performance, we observe the current price at 544. This places it around 12.55% below its 52-week high and 33.80% above its 52-week low, indicating a moderate range of volatility. The stock shows signs of indecision with today's candle forming a Spinning Top, reflecting market uncertainty.

Looking at the technical indicators, the RSI is currently at a level that suggests the stock is approaching oversold conditions, which may indicate a potential buying opportunity. The MACD remains negative, reinforcing bearish momentum. The Stochastic Oscillator also suggests the stock is in an oversold territory, which could prompt a reversal. The ADX indicates a weak trend, so traders might be cautious as the stock lacks clear directional strength.

Support levels are identified around the recent low of 538.58, while resistance can be found near 565.87, which is the Classic Pivot Point. Overall, with ROE and ROCE figures presenting a stable financial backdrop, investors may want to consider monitoring the technical indicators closely for any signs of trend reversal as the stock trades within this range.