Tilaknagar Industries Limited (TI) Stock - Complete Technical Analysis - Nov 14, 2024

Tilaknagar Industries Stock Analysis Technical Insights, Support & Resistance Levels November 2024

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. Tilaknagar Industries Limited (TI) stock is displaying a bullish trend in the medium term, currently trading at 339, 7.09% below its recent 52-week high of 364.5. The stock has been recovering impressively, now trading 86.02% higher than its 52-week low of 182.05 from earlier this year. Over the last few days, TI has seen some fluctuations, indicating a healthy consolidation after a recent surge. On November 14, the stock opened at 332.95 and closed at 338.65, signaling a potential for further upward movement, as it stayed above key support levels.

The technical indicators support this view. The RSI is comfortably in the neutral zone, not signaling any overbought conditions. The MACD continues to show positive momentum, while the Awesome Oscillator and the Commodity Channel Index indicate strength in the upward trend. The stock's position above the 50-day and 100-day moving averages further suggests the potential for continued growth, especially if it can maintain levels above 325.

However, given the high volatility indicated by an ATR of 8.5, traders should be cautious. The stock has experienced a range between 325 and 352 in recent sessions, and these levels will be crucial for any short-term trade decisions. A breakout above the 352 mark could lead to higher targets, while a drop below 325 could signal a potential reversal. Traders should closely monitor these levels to decide on their entry and exit points.