Tourism Finance Corporation of India Limited (TFCILTD) Stock - Complete Technical Analysis - Oct 01, 2024

Uncovering TFCILTD: Technical Analysis & Trading Insights for Investors

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. Tourism Finance Corporation of India Limited (TFCILTD) is currently trading at 165, indicating a notable decline of approximately 38.45% from its 52-week high of 267.55. The stock has shown resilience by remaining 81.27% above its 52-week low of 90.85. The recent price action reveals an inside candle pattern formed on September 19, where the stock traded between a parent high of 177.90 and a low of 162.00 for nine consecutive days.

Analyzing the last five trading sessions, we observe a downward trend characterized by sudden price drops, particularly from the previous high of 173.40 to the current level. The highest close during this period was 173.34, and the stock struggled to maintain upward momentum, with the latest closing at 164.68. Volatility indicators show an ATR of approximately 14.35, suggesting that TFCILTD is experiencing moderate price fluctuations.

Technical indicators depict a bearish sentiment, as the MACD is negative, indicating a potential bearish trend. The RSI at 37.09 is approaching the oversold territory, suggesting a possible reversal or bounce back if buying interest picks up. The Stochastic oscillator, currently at 15.83, supports this bearish view, indicating that the stock may be oversold. Additionally, the ADX at 16.37 signals a weak trend, suggesting that the stock might continue to trade in a range-bound manner for the near term.

Resistance levels are seen around the EMA and SMA averages, particularly at 169.98 and 174.35, while support is identified near the classic pivot support level at 155.95. Investors should watch these levels closely, as breaks below support could lead to further declines, while a rise above resistance levels might signal a trend reversal.

In summary, TFCILTD is currently navigating through a bearish phase, with key support at 155.95 and resistance around 169.98. Traders should remain vigilant and consider these technical indicators and price levels for potential trading strategies.