CIE Automotive India Limited (CIEINDIA) Stock - Complete Technical Analysis - Oct 25, 2024

CIE Automotive India Ltd Technical Analysis: Support, Resistance & Trading 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. In this analysis of CIE Automotive India Limited, currently priced at 496.05, we see a spinning top candle indicating market indecision. The stock is trading 20.30% below its 52-week high of 622.4, reached on July 9, 2024, and 21.94% above its low of 406.8 from March 14, 2024.

Immediate support levels are around 487.25, with stronger support at 499.30 based on the classic pivot. Resistance is seen near recent highs of 503, with further resistance at 514. The ADX at 27.71 suggests a strong trend, but the RSI at 29.97 indicates oversold conditions, signaling a possible reversal. The Stochastic %K of 10.58 supports this perspective, while a negative MACD shows bearish momentum.

Volatility is present, with an ATR of 20.67, suggesting significant price movement. The recent downtrend is confirmed by lower highs and lower lows, highlighting potential selling pressure after the drop from 514 to 496 today.

Traders should keep an eye on support at 487.25 for potential buying opportunities and consider resistance levels at 503 and 514 for potential exit strategies.