Rajratan Global Wire Limited (RAJRATAN) Stock - Complete Technical Analysis - Nov 14, 2024

Rajratan Global Wire Stock Analysis Key Support & Resistance Levels Technical Overview for Trade

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. Rajratan Global Wire Limited (RAJRATAN) stock, currently trading at 507.20, is facing significant selling pressure with mixed technical indicators pointing towards short-term bearishness. The stock is significantly below its 52-week high of 819.85 and shows a weak trend according to the Average Directional Index (ADX). The Relative Strength Index (RSI) is indicating an oversold condition, which could suggest the possibility of a reversal.

Key support lies in the 500-505 range, and a breach of this level could push the stock further down to 460. Resistance lies around the 520-525 range, with a stronger resistance at 540-545. The stock is below its moving averages and momentum indicators, such as MACD and Stochastic RSI, are also signaling weakness.

While there are opportunities for short-term traders to catch a reversal if the stock hits its support level, investors should remain cautious given the overall trend. The stock's recent price movements, particularly its volatility and reversals, make it a risky proposition, and traders should watch for clear breakouts either above 520 or below 500 to make informed decisions.