RattanIndia Power Limited (RTNPOWER) Stock - Complete Technical Analysis - Sep 27, 2024

RattanIndia Power Stock Analysis: 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.

RattanIndia Power Limited (RTNPOWER) is currently trading at 14.7, representing a significant 30.52% decline from its 52-week high of 21.1, reached on June 4, 2024, while remaining 125.54% above its 52-week low of 6.5 recorded on October 5, 2023. The stock exhibits moderate volatility, as indicated by the Average True Range (ATR), which shows an upward trend, reflecting potential price swings.

The Average Directional Index (ADX) is at 16.86, indicating a weak trend. Meanwhile, the Relative Strength Index (RSI) is at 39.64, suggesting that the stock is approaching oversold territory, indicating potential for a rebound. The Stochastic %K is also at 37.13, further supporting this notion of oversold conditions. The MACD is negative, hinting at bearish momentum; however, the Stochastic RSI fast shows signs of recovery at 57.51.

Analyzing the moving averages, the 10-day EMA stands at 15.05, indicating immediate resistance just above the current price. Support levels can be observed at the classic pivot S1 at 14.87, and a breakdown below this level may lead to further testing of the S2 level around 13.53. On the upside, resistance can be seen near the classic pivot P at 16.33. If the stock can breach this level, it could signal a stronger bullish trend.

In summary, RTNPOWER appears to be at a crucial junction. While the stock is currently facing resistance near the 15.05 EMA and the classic pivot levels, the oversold indicators such as RSI and Stochastic suggest a potential for a price bounce. Investors should closely monitor these levels to make informed trading decisions.