Triveni Engineering & Industries Limited (TRIVENI) Stock - Complete Technical Analysis - Nov 22, 2024

Triveni Engineering Stock Analysis: Bullish Reversal or Downtrend Technical Insights & Key Levels

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. Triveni Engineering & Industries Limited (TRIVENI), trading at 371.2, has shown a 28.34% decline from its 52-week high of 518. Recent price patterns like the Morning Star suggest a bullish reversal could be near. However, the stocks RSI at 35 indicates it may be oversold, and the MACD is currently negative, suggesting weakness.

Immediate support levels are near 360.75 and 325, with resistance near 380, followed by 395. The stock is trading below its shorter-term EMAs but above its 50-day and 100-day EMAs, signaling a possible rebound in the longer term.

The ADX of 38.41 highlights a strong trend, though with a negative MACD, indicating the current downtrend could continue. Stochastic indicators also show oversold conditions, suggesting a reversal may be due soon.

With an ATR around 70, volatility is moderate, offering opportunities for traders willing to take on some risk. Overall, while the short-term trend remains weak, the potential for a reversal exists if the stock can break resistance levels, especially in the 380-395 range.