Technocraft Industries (India) Limited (TIIL) Stock - Complete Technical Analysis - Nov 22, 2024

Technocraft Industries (TIIL) Stock Analysis - Support, Resistance & Key Levels Technical Overvie

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. Technocraft Industries (India) Limited (TIIL) stock, currently trading at 2496.10, is experiencing a notable downtrend. It's 36.53% off its 52-week high, and recent price action shows a pattern of consistent declines, with each recent close showing lower levels than the previous day. The Relative Strength Index (RSI) is firmly in the oversold territory, signaling potential for a bounce-back, yet other indicators like the MACD and Stochastic are still reflecting weak momentum.

Traders should note that support is located at the 2475-2480 levels, with the next level at 2450. A break below 2450 could signal further declines toward the 2300 zone. Resistance is seen in the 2550-2575 range, with a stronger resistance forming around 2650-2700. Watch for these levels to act as triggers for potential breakouts or breakdowns.

The Exponential Moving Averages (EMA) show the stock trading below the critical 50, 100, and 200-day averages, reinforcing the bearish outlook. Additionally, the Average True Range (ATR) signals significant volatility, so price fluctuations can be expected.

For long-term investors, this stock may be a potential buy at lower levels if a reversal occurs, but its important to wait for confirmation. For short-term traders, resistance zones are ideal for shorting until price momentum turns positive. The market is cautious at these levels, with volatility increasing the risk.