Tilaknagar Industries Limited (TI) Stock - Complete Technical Analysis - Oct 11, 2024

Tilaknagar Industries Technical Analysis: Price Trends, Support & Resistance Insights

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.

Tilaknagar Industries Limited (TI) is currently trading at 305.60, showcasing a strong recovery from its 52-week low of 177.00, indicating a remarkable gain of 72.66%. However, the stock is trading 7.37% below its 52-week high of 329.90 reached recently. Analyzing the price movements over the last five days, we observe significant volatility with fluctuations between 265.60 and 310.95, highlighting both a potential surge and subsequent pullback.

In terms of technical indicators, the Average Directional Index (ADX) is at 26.21, suggesting a strong trend. The Relative Strength Index (RSI) is at 56.26, indicating the stock is neither overbought nor oversold. The Stochastic %K at 64.91 confirms bullish momentum, while the MACD level of 3.58 signifies potential upward movement. The Bull Bear Power is at 12.47, which suggests that buyers are in control, although the Awesome Oscillator, currently at -1.14, indicates some bearish pressure that traders should watch closely.

Support levels can be identified around 298.70 from the recent low, while resistance is likely at 310.95, observed during the last trading session. Notably, the stock also bounced back from the classic pivot point of 302.1, which can act as a critical support level moving forward.

With strong fundamentals, as reflected in the P/E ratio of 35.9, ROCE of 22.6%, and ROE of 25.4%, investors may find TI appealing for long-term growth. However, given the current market conditions and the volatility observed, traders should consider implementing stop-loss strategies around 298 to mitigate risks associated with sudden price drops or surges. Monitoring these support and resistance levels will be crucial for making informed trading decisions in the coming days.