The New India Assurance Company Limited (NIACL) Stock - Complete Technical Analysis - Oct 07, 2024

NIACL Stock Analysis Key Support & Resistance Levels Is a Reversal Coming

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. The New India Assurance Company Limited (NIACL) is currently trading at 205, showing a significant recovery from its 52-week low of 130.1 but still below its 52-week high of 324.7. Recent price action indicates a steady decline, with the stock closing at 205.15 after a high of 222.39, suggesting bearish momentum. Technical indicators like the RSI are in oversold territory, reflecting possible exhaustion in selling pressure. The MACD shows bearish divergence, while the ADX indicates a weakening trend. With the Awesome Oscillator in negative territory and the Stochastic Oscillator deeply oversold, there could be a potential reversal, but confirmation is needed through stronger price action. The stock is also trading below key EMAs (10, 20, 50, 100, and 200), highlighting a bearish trend. Immediate support is seen near 198, with resistance at 245. Traders should watch for price consolidation and any bullish reversal signals before entering long positions. The overall technical setup suggests caution, with potential for further downside or consolidation unless momentum shifts.