Rallis India Limited (RALLIS) Stock - Complete Technical Analysis - Nov 14, 2024

Rallis India Limited (RALLIS) Technical Analysis Support, Resistance & Market Trends NSE Stocks

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. Rallis India Limited (RALLIS) is showing signs of consolidation after a sharp drop from its 52-week high. Trading at 307.75, the stock remains 45.17% higher than its 52-week low, suggesting some recovery potential. Despite this, it is trading below key moving averages, indicating a short-term bearish trend.

The RSI at 37.97 points to oversold conditions, and both the Stochastic Oscillator and Stochastic RSI reflect similar sentiment, which may indicate that the stock is primed for a short-term rebound. However, the MACD remains negative, signaling sustained bearish momentum, and the ADX value at 15.54 suggests that the stock is currently in a weak trend.

Candlestick patterns like Doji and Spinning Top show market indecision. The recent Bullish Harami pattern does point to potential reversal, but a clear trend is yet to be established. The price volatility, evidenced by the ATR, indicates that traders should be cautious of sharp price movements.

Immediate support is at 305-306, while resistance is at 315-317. A break above resistance could signal a recovery, while a failure to hold support could lead to further downside risk. For those looking to trade, its important to monitor for a breakout or confirmation of reversal near these key levels.