New Delhi Television Limited (NDTV) Stock - Complete Technical Analysis - Oct 01, 2024

Technical Analysis of NDTV Stock: Support & Resistance Levels for Smart Trading

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. New Delhi Television Limited (NDTV) is currently trading at 185, showing significant volatility over the past week, with a notable price trend characterized by sudden drops and minor recoveries. The recent price action indicates a bearish sentiment, with the stock closing down from a high of 191 earlier in the week. This is reflected in the MACD, which is negative, suggesting a continuation of the bearish trend.

Support levels are observed around 180, which aligns with previous lows, while resistance is evident near the 193 mark, reinforced by the exponential moving averages (EMAs) and simple moving averages (SMAs) that are currently above the price action. The stock has recently approached its 52-week low of 186.05, which may attract buyers looking for value, but the overall trend remains concerning.

Technical indicators like the RSI at approximately 29 indicate the stock is oversold, which could signal a potential reversal in the near term, especially if the price manages to break above 190. However, the ADX is at 28.4, suggesting a strong trend that traders should be cautious about. Additionally, the ATR indicates elevated volatility, highlighting the potential for rapid price movements. Investors should keep a close eye on these indicators to gauge the right entry or exit points in this fluctuating market.

In summary, NDTV is currently in a bearish phase with support at 180 and resistance near 193. Traders should be aware of the oversold conditions and potential volatility as they consider their strategies.