Rallis India Limited (RALLIS) Stock - Complete Technical Analysis - Nov 22, 2024

Rallis India (RALLIS) Stock Technical Analysis Support, Resistance & Trends Explained

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. Rallis India Limited (RALLIS) stock has shown some interesting technical signals. Currently trading at 318, it remains 15.94% below its 52-week high and 41.36% above its 52-week low. The recent price action suggests a volatile market, with a slight upward surge from 304 to 319.95 on November 22.

Looking at the charts, key support is observed at 304-305, while resistance is identified near 328, with the 50-day and 200-day simple moving averages confirming this level. If the price dips below 304, the next support level is around 292.

Key indicators like the MACD show a bearish divergence, indicating that momentum may remain weak for now. The RSI sits around neutral, and the Commodity Channel Index (CCI) is also negative, suggesting the potential for price reversal if support holds.

The ADX is relatively low, indicating no strong trend in place. However, the Ichimoku base line suggests that RALLIS is currently below its key resistance levels, and a breakout above 328 may push the price to 340-345 levels.

For traders, the current range-bound action offers opportunities to trade within this range, with careful attention to volume and momentum for breakout signals. A break above or below the current range could set the stage for the next trend.