Cyient Limited (CYIENT) Stock - Complete Technical Analysis - Nov 19, 2024

Cyient Limited Technical Analysis: Key Support & Resistance Levels Is a Reversal Coming

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. Cyient Limited (CYIENT) is facing some technical pressure, with the stock trading at 1,813, about 26% below its 52-week high of 2,458.95. The stock is nearing its 52-week low, and while it's showing a slight upward movement, it's still in a corrective phase. Key technical indicators like the ADX (13.54) are showing a weak trend, signaling that CYIENT is moving sideways, which could present an opportunity for traders looking for a reversal. The RSI and Stochastic RSI suggest that the stock is not yet in oversold territory but is approaching it.

The Exponential Moving Averages (EMAs) show that the stock is still below short-term moving averages, indicating weakness in the immediate trend. However, the 50-day and 100-day EMAs remain above, showing that the long-term trend is still intact. The Ichimoku Base Line is at 1,812.78, which could provide support, and the classic pivot points and Fibonacci retracements offer multiple levels of support and resistance.

Traders should watch for a breakout above 1,823, which could signal further gains. On the downside, the low of 1,783.65 seen recently could act as support, and if the stock fails to hold above that level, a deeper correction might follow. The ATR shows that the stock is experiencing high volatility, so it's important to keep an eye on sudden price movements.