Ingersoll Rand (India) Limited (INGERRAND) Stock - Complete Technical Analysis - Nov 12, 2024

Ingersoll Rand (India) Stock Technical Analysis: Support, Resistance & Key Insights for Traders I

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. Ingersoll Rand (India) Limited, with a current price of 4,194.85, shows a neutral to slightly bearish trend. The stock is facing resistance around 4,350-4,380, and support is around the 4,160 region. A recent Bearish Engulfing pattern indicates potential short-term downside. The ADX value is relatively low, indicating weak trending strength, which means the stock may consolidate in a range. Momentum indicators like the MACD are negative, signaling possible downside, but the RSI suggests that the stock isnt oversold. If 4,160 support is breached, a further pullback to 4,000 is possible. Traders should watch for a break above 4,350 for a possible bullish continuation.

The moving averages, both simple and exponential, are showing mixed signals. Short-term averages are below long-term averages, hinting at the possibility of more downside. The ATR (Average True Range) is increasing, indicating heightened volatility, so stop-losses should be carefully placed. The stock is currently 16.10% below its 52-week high and is 45.60% above the 52-week low, which could suggest that its currently trading near a key intermediate level.

For the near term, the stock is likely to be range-bound between the 4,350-4,380 resistance and 4,160-4,000 support zones. A break in either direction could offer the next move.