Tata Chemicals Limited (TATACHEM) Stock - Complete Technical Analysis - Sep 05, 2024

Tata Chemicals Limited (TATACHEM) Stock Analysis: Support, Resistance

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. Tata Chemicals Limited, trading at 1081.25, shows a mixed technical outlook. The stock is currently trading 19.85% below its 52-week high of 1349 and 15.89% above its 52-week low of 933. The Average Directional Index (ADX) at 19.68 indicates a weak trend, while the Relative Strength Index (RSI) at 52.53 suggests that the stock is near neutral, neither overbought nor oversold. The MACD level at 5.75 reflects bullish momentum, yet the Momentum indicator shows a slight negative value, indicating some bearish pressure.

Support levels to watch are around the classic and Fibonacci pivot points near 1075.58, while resistance might be seen at 1140.07 according to classic pivot levels. The Stochastic %K at 72.56 and Stochastic RSI at 59.36 imply that the stock is currently in the upper range but not yet in overbought territory. The Awesome Oscillator shows positive momentum, suggesting that bullish sentiment could persist.

The stock's price is closely aligned with the Exponential Moving Averages (EMAs) across various periods, which indicates a possible consolidation phase. The Ichimoku Base Line and Volume Weighted Moving Average also confirm strong support near 1072. The recent Doji and Spinning Top patterns on the chart signal indecision in the market, suggesting that traders should be cautious and watch for confirmation of direction before making major moves.

Overall, Tata Chemicals' technical indicators present a neutral to slightly bullish view with key support around the 1072-1075 zone and resistance around 1140. Traders should monitor these levels closely for potential trading opportunities.