TVS Supply Chain Solutions Limited (TVSSCS) Stock - Complete Technical Analysis - Oct 11, 2024

TVS Supply Chain Solutions Limited: Technical Analysis & Key Levels for Traders

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.

Let's dive into the technical analysis of TVS Supply Chain Solutions Limited. Currently trading at 191.26, the stock is showing signs of market indecision, highlighted by today's spinning top candle formation. This pattern reflects a tug-of-war between buyers and sellers, suggesting that traders should exercise caution.

Examining the key technical indicators, the Average Directional Index is around 20, indicating a weak trend. The Relative Strength Index is near 43, suggesting that the stock is neither overbought nor oversold. However, the MACD is negative, signaling a bearish momentum. The Stochastic oscillator also confirms bearish pressure, reflecting a value of 31, while the Stochastic RSI indicates further weakness at 29.

Support levels are crucial to monitor, with a classic pivot support at 191.11 and additional supports at 178.51 and 152.68. Resistance levels to watch are near 216.94, where the first resistance is located.

The stock is currently 17.26% below its 52-week high of 231.15, indicating potential for recovery if it breaks above resistance levels. Moreover, the stock has been fluctuating within a narrow range since October 7, forming an inside candle pattern. This price behavior emphasizes the importance of waiting for a breakout or breakdown before taking positions.

Volatility is moderate, as suggested by the Average True Range around 7.78, indicating potential price swings. Recent trading data shows a decline from a high of 197.00 to today's close, further confirming bearish sentiment in the short term.

Overall, traders should remain vigilant around the support levels while watching for any breakout towards resistance, especially in light of the weak trend signals.