IRB Infrastructure Developers Limited (IRB) Stock - Complete Technical Analysis - Sep 04, 2024

"IRB Infrastructure Developers Stock Analysis: Key Support

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.

IRB Infrastructure Developers Limited (IRB) is currently trading at 63.2. Analyzing the technical indicators, we observe that the stock is experiencing some weakness. The Average Directional Index (ADX) is at 18.28, indicating a weak trend strength. The Relative Strength Index (RSI) is at 43.9, suggesting that the stock is currently in a neutral to slightly oversold condition. The Stochastic %K is at 21.98, and the Stochastic RSI Fast is at 13.89, pointing towards potential oversold conditions which could signal a possible rebound.

The MACD is currently negative at -0.41, indicating bearish momentum. The Momentum indicator is at -1.5, suggesting decreasing momentum. The Commodity Channel Index (CCI) is at -37.43, which also supports the bearish trend. The Awesome Oscillator is negative at -0.96, reflecting a bearish market sentiment.

Support and resistance levels are crucial for determining potential price movements. The key support levels are around 60.13 and 56.92, with further support at 50.32. Resistance levels to watch are 66.73 and 70.12, with further resistance at 76.72.

Moving Averages (MA) indicate a bearish trend as the Exponential Moving Averages (EMAs) and Simple Moving Averages (SMAs) are trending lower. The 10-day EMA is at 64.01, while the 50-day EMA is at 65.08, both above the current price, signaling resistance. Similarly, the 10-day SMA at 64.53 and the 50-day SMA at 65.41 also show resistance.

The Ichimoku Base Line at 63.79 and the Volume Weighted Moving Average (VWMA) at 63.87 further reinforce the resistance around the current price level. The Hull Moving Average at 62.68 and the Classic Pivot Point at 63.52 suggest a possible support level around the current price.

In summary, IRB Infrastructure Developers Limited (IRB) is showing bearish signals across multiple indicators. The stock is trading near key support levels and faces resistance around its current price. Traders should monitor these levels closely and be cautious of potential bearish trends while looking for possible rebounds from the support levels.