TITAGARH RAIL SYSTEMS LIMITED (TITAGARH) Stock - Complete Technical Analysis - Sep 06, 2024

TITAGARH RAIL SYSTEMS TECHNICAL ANALYSIS 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. TITAGARH RAIL SYSTEMS LIMITED, currently trading around 1,400, shows several technical signals worth noting. The stock is 26.19% below its 52-week high of 1,896.95, indicating a potential for recovery or further correction, and 105.60% above its 52-week low of 681, reflecting strong growth over the past year.

In terms of moving averages, the stock is positioned below most key levels. The 10-day EMA is at 1,424.8, the 20-day EMA at 1,443.45, and the 50-day EMA at 1,466.92, suggesting short-term bearish pressure. The 200-day EMA stands at 1,210.98, indicating long-term support. The current price is also below the simple moving averages and Ichimoku base line, reinforcing the bearish trend.

The Average Directional Index (ADX) at 13.65 suggests a weak trend, while the Relative Strength Index (RSI) at 42.98 indicates the stock is neither overbought nor oversold but could be approaching oversold conditions. The Stochastic %K and Stochastic RSI are both in the lower ranges, reinforcing a bearish outlook.

The MACD is negative, and the Momentum indicator is also showing a downward trend. Additionally, the Awesome Oscillator and Commodity Channel Index (CCI) reflect bearish momentum. The Bull Bear Power is negative, indicating selling pressure.

Support levels are crucial at the Classic Pivot S1 of 1,280 and further down at the Camarilla S3 of 1,335. Resistance levels are at the Classic Pivot R1 of 1,601.88 and the Fibonacci R1 of 1,581.4.

Overall, TITAGARH is in a corrective phase with bearish indicators dominating, but the price is trading above its long-term moving averages, which could provide support if the bearish trend persists. Traders should watch for potential reversals around key support levels or further confirmation of the downtrend.