Tata Teleservices (Maharashtra) Limited (TTML) Stock - Complete Technical Analysis - Sep 06, 2024

Tata Teleservices (TTML) Stock Analysis Key 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. Let's dive into the technical analysis of Tata Teleservices (Maharashtra) Limited, trading at 91.2. Starting with key support and resistance levels, the stock is currently positioned 18.11% below its 52-week high of 111.4 and 40.25% above its 52-week low of 65.05, suggesting a volatile but upward trend. For immediate trading strategies, the stock faces resistance around the 95.85 mark, influenced by the Volume Weighted Moving Average, and the 96.06 level, corresponding to the Classic Pivot Point. Support levels are found at 88.11, close to the Classic Pivot S1, and at 92.47 from the Camarilla S3.

Examining the indicators, the Average Directional Index (ADX) is at 26.2, indicating a strong trend, though not overly strong. The MACD shows a positive momentum, with the current level suggesting bullish momentum, while the RSI is at 46.01, pointing to a neutral to bearish condition. The Stochastic %K and Stochastic RSI are both in oversold regions, hinting at potential for a price rebound. The Awesome Oscillator and Commodity Channel Index are also in negative territory, suggesting bearish pressures in the short term.

Moving averages provide a mixed signal. The stock is trading below several key moving averages, including the 10, 20, and 30-day EMA, which could indicate a bearish trend or consolidation phase. However, it remains above the longer-term 200-day EMA, indicating overall uptrend support. The Hull Moving Average and Ichimoku Base Line are also above the current price, reinforcing resistance at higher levels.

In summary, while the stock shows strong overall growth and potential, immediate trading signals suggest cautious optimism with key resistance around 96.06 and support near 88.11. Traders should watch these levels closely and consider broader market conditions and company fundamentals in their strategy.