BOROSIL RENEWABLES LIMITED (BORORENEW) Stock - Complete Technical Analysis - Oct 25, 2024

BOROSIL RENEWABLES: Technical Analysis & Insights 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.

In our technical analysis of BOROSIL RENEWABLES LIMITED, currently trading at 411.55, we observe several key indicators. The stock has been under pressure, recently declining from 460, reflecting a bearish trend. The RSI is indicating oversold conditions, suggesting a possible bounce-back, while the MACD remains negative, confirming momentum weakness.

Crucial support is at the recent low of 391.05, and resistance is currently at 424.70. The ADX reading above 30 highlights a strong trend, indicating traders should remain cautious.

Recent trading has been marked by volatility, with a drop to 402.80 today from a high of 424.70, coupled with an average true range showing potential for significant swings.

Traders should be vigilant for potential reversals near the support level and monitor momentum indicators like RSI and MACD for bullish signs. Key resistance levels will be critical as we await further developments in earnings and sector conditions.