Timken India Limited (TIMKEN) Stock - Complete Technical Analysis - Sep 05, 2024

Timken India 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.

Timken India Limited, trading at 3,805, is currently experiencing a period of technical fluctuation. The stock is 21% below its 52-week high of 4,817, and 51% above its 52-week low of 2,524. From a technical perspective, key support levels are marked around the 3,800 zone, where the Exponential Moving Average of 10 days sits, and around the 3,790 area, which aligns with the Volume Weighted Moving Average. Resistance levels are evident near the 3,940 range, aligning with the Classic Pivot Point and Fibonacci Pivot Point.

In terms of technical indicators, the Average Directional Index (ADX) at 15.46 suggests a weak trend, indicating indecision in the market. The Relative Strength Index (RSI) is at 46.31, reflecting a neutral to slightly bearish sentiment. The Stochastic Oscillator and Stochastic RSI show the stock is in the overbought territory, which could signal potential for a pullback. The MACD is negative, indicating bearish momentum, while the Awesome Oscillator is also negative, reinforcing the bearish outlook.

Moving averages are indicating a mixed sentiment: the short-term Exponential Moving Averages are below the longer-term averages, suggesting a potential bearish trend. The stock's recent Shooting Star pattern reinforces a possible bearish reversal, with the open at 3,835 and close at 3,805. The Average True Range (ATR) has been fluctuating, reflecting high volatility, which traders should consider for setting stop-loss levels.

Overall, Timken India Limited shows mixed technical signals with potential support near current levels and resistance at higher points. Traders should watch for confirmation of trends and consider the mixed indicators before making trading decisions.