Tilaknagar Industries Limited (TI) Stock - Complete Technical Analysis - Sep 27, 2024

Tilaknagar Industries Limited: Technical Analysis & Price Levels - What Traders Need to Know

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 Tilaknagar Industries Limited (TI) stock, we see the current price at 291.35, which is approximately 11.69% below its 52-week high of 329.9, achieved recently on September 13, 2024. The stock is notably 64.60% above its 52-week low of 177.0 recorded on October 25, 2023.

Fundamentally, the stock has a P/E ratio of 34.2, a book value of 34.5, and a modest dividend yield of 0.17%. The Return on Capital Employed (ROCE) is strong at 22.6%, with Return on Equity (ROE) at 25.4%, indicating good profitability and efficient use of equity.

Looking at the technical indicators, the Average Directional Index (ADX) is significantly high, indicating a strong trend, while the Relative Strength Index (RSI) suggests the stock is nearing equilibrium, presenting potential for further movement. The Stochastic Oscillator indicates oversold conditions, which could lead to a bullish reversal if the price action confirms it.

The MACD is currently positive, reinforcing the bullish sentiment in the stock, but momentum appears weak, suggesting a possible pullback. Notably, the stock is trading below its short-term and long-term moving averages, which signals a potential resistance zone.

Support can be expected near the Classic Pivot level, while resistance may be encountered at previous highs, aligning with the moving averages. Investors should watch for breakout opportunities, especially if the stock reclaims its moving averages, as it could signal a reversal.

Overall, Tilaknagar Industries presents a mixed technical outlook, with strong fundamentals backing potential future growth. However, traders should remain vigilant, monitoring key price levels and indicators for confirmation of trends.