Thirumalai Chemicals Limited (TIRUMALCHM) Stock - Complete Technical Analysis - Aug 30, 2024

Thirumalai Chemicals Limited Stock Analysis Key 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.

Thirumalai Chemicals Limited, trading at 337, shows mixed technical signals. Support levels are notably at 303.2, with further support around 261.85 and 194.35 from classic pivots. Resistance is evident at 370.7, with higher resistance points at 396.85 and 464.35. From a moving averages perspective, the stock is currently above its 10-day EMA of 337.5 but below the 20-day EMA of 332.68. The 50-day EMA is at 318.86, while the 200-day EMA stands at 272.25, indicating an overall upward trend over a longer period.

The RSI is at 54.39, suggesting the stock is neither overbought nor oversold. The MACD shows a positive trend with its level at 6.49, while the Awesome Oscillator is also positive at 17.0. The ADX reading of 22.37 indicates a weak trend strength, meaning the stock may be in a consolidation phase. Stochastic indicators show a moderately bullish sentiment with the %K at 61.86 and Stochastic RSI at 69.52.

The Average True Range (ATR) reflects increasing volatility, with a recent average of around 77.02. Chart patterns and pivot points suggest that the stock could see more volatile swings as it approaches significant resistance or support levels.

In summary, while Thirumalai Chemicals Limited shows an overall positive trend with its moving averages and technical indicators like MACD and Awesome Oscillator, the stock faces notable resistance levels and volatility. Traders should watch these levels closely for potential breakouts or pullbacks.