NMDC Steel Limited (NSLNISP) Stock - Complete Technical Analysis - Oct 25, 2024

NSLNISP Technical Analysis: Key Support & Resistance Levels Revealed

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. NMDC Steel Limited has seen a steady decline over recent sessions, with today's close at 43.71 indicating a bearish trend. The stock's RSI, falling below 30, suggests an oversold status, and the ADX shows a moderately strong trend. Moving averages further support the bearish sentiment, as NSLNISP is trading below critical EMAs and SMAs. Momentum indicators like MACD and Awesome Oscillator both indicate downward pressure, while the Stochastic levels show a lack of bullish buying interest. The latest pattern, a bearish engulfing, supports the expectation of continued selling pressure unless a reversal is signaled. Immediate support levels are found near 41.92, with a broader support zone at the 52-week low around 39.15. Should the stock break above resistance near 47.5, a potential trend reversal may be in play. However, with the bearish indicators in mind, NSLNISP could see further downside if bearish momentum continues, so traders should closely monitor support levels.