Transport Corporation of India Limited (TCI) Stock - Complete Technical Analysis - Oct 25, 2024

Comprehensive Technical Analysis of TCI Stock: Trends, Levels & Indicators

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. For the technical analysis of Transport Corporation of India Limited (TCI), we observe that the stock is currently priced at 1038.20, which places it about 16.14% below its 52-week high of 1238.00, achieved on August 22, 2024, and approximately 37.03% above its 52-week low of 757.65 from March 14, 2024. The recent trading day closed with a Spinning Top candlestick, indicative of indecision among investors, with an open of 1032.85, a high reaching 1092.00, and a low of 1026.10.

The stock's immediate support level can be identified around 1035. A failure to hold this level could lead to further declines towards the next support at approximately 999.4. Conversely, if TCI can break through resistance near the 1085 mark, it may signal a bullish run.

From a technical indicator perspective, the ADX is showing a weak trend at 21.87, while the RSI sits at 46.62, indicating a balanced momentum but warranting caution for potential bullish shifts. The MACD is currently in a bearish position, and the Stochastic indicators hover around the midpoint, reinforcing the idea of sideways movement.

The Average True Range reflects heightened volatility, hinting that traders should be vigilant for sudden price surges or drops. The previous trading sessions showcased significant price gaps, further underscoring active trading dynamics.

In conclusion, keeping a close watch on the key price levels of 1085 and 1035 will be crucial for traders looking to capitalize on upcoming movements in TCI's stock.