Inox Wind Limited (INOXWIND) Stock - Complete Technical Analysis - Nov 21, 2024

Inox Wind Technical Analysis: Key Levels, Trend, and Insights for Traders INOXWIND Stock Review

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. Inox Wind Limited (INOXWIND) currently stands at 189, marking a near 28% drop from its 52-week high. Despite the steep fall, the stock has bounced impressively from its low, showing a 213% gain. The technical indicators suggest a cautious outlook, with a weak trend as seen in the ADX reading of 19.36. The RSI and Stochastic indicators indicate the stock is oversold, signaling the possibility of a short-term bounce, though momentum remains negative, with a MACD of -8.34 and a Momentum indicator at -30.18. The stock faces resistance in the 200-210 range and is supported around 180-185. With no clear upward trend, traders should look for potential reversal signals before taking long positions. A failure to break resistance could signal further downside risks, particularly if the support at 180 breaks.