CIE Automotive India Limited (CIEINDIA) Stock - Complete Technical Analysis - Nov 11, 2024

CIE Automotive India Technical Analysis - Support, Resistance & Price Action Forecast November 20

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. CIE Automotive India Limited, with a current price of 475, is trading 23.7% below its 52-week high and 16.74% above its 52-week low. This suggests the stock may be in a range-bound market. The RSI of 32.26 indicates the stock is oversold, potentially indicating an opportunity for a price reversal.

Despite the negative MACD and Momentum, which suggest a bearish outlook, traders should monitor for a potential bullish reversal. The ADX value of 28.08 signals a strong trend, although its direction remains uncertain, as the stock is showing mixed signs of upward and downward movement.

The stock faces short-term resistance around 480-490, with stronger resistance near the 500-505 levels. On the support side, the key level to watch is around 459, with further support at the 422 range. Given the volatility seen in the ATR, with recent swings between 20-25 points, traders should be prepared for short-term price fluctuations.

To sum up, traders should watch for a price break above 480-490 for potential upward momentum, while a drop below 459 could indicate further downside. Keep an eye on the next few trading sessions for signs of price action at these key levels.