Intellect Design Arena Limited (INTELLECT) Stock - Complete Technical Analysis - Oct 17, 2024

Intellect Design Arena Technical Analysis: Key Levels to Watch 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.

Intellect Design Arena Limited is currently trading at 871, showing a significant decline from its 52-week high of 1199, reflecting a 27.36% drop. The stock is, however, 39.36% above its 52-week low of 625. Recent price movements indicate a relatively stable trend, highlighted by the formation of an inside candle pattern on October 16, with a parent high of 900.2 and a low of 868.65.

Analyzing the technical indicators, the RSI is currently at 34.1, suggesting that the stock may be oversold. The MACD level is negative at -27.76, indicating a bearish trend. The Average Directional Index (ADX) at 19.03 shows a weak trend, confirming that the stock is experiencing low momentum. The Awesome Oscillator stands at -72.17, reinforcing the bearish sentiment.

Support levels are at 868.65, evidenced by the recent low, with additional support anticipated around 894.77 and 921.13 based on classic pivot levels. Resistance can be identified at 900.2, where the stock faced selling pressure, with further resistance expected near 917.26 and 932.61 from the exponential moving averages.

In terms of volatility, the stock has shown fluctuations, particularly in the last five days, with the highest close being 899.90 and the lowest being 869.10. This suggests that traders should remain cautious, as sudden price drops or surges can lead to potential reversals. Overall, investors should monitor the RSI and MACD closely for signs of a reversal and consider these support and resistance levels for potential entry and exit points.