India Tourism Development Corporation Limited (ITDC) Stock - Complete Technical Analysis - Sep 10, 2024

ITDC Stock Analysis: Bearish Signals & Potential Rebound - Detailed Technical Insights

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.

Technical Analysis for India Tourism Development Corporation Limited (ITDC)

Currently trading at 708, ITDC is showing a mixed technical picture. The stock is trading 23.92% below its 52-week high of 930.8 and 91.62% above its 52-week low of 369.55, indicating a significant range of price movement over the past year.

Support and Resistance Levels:

Support Levels: Immediate support is around 676.1, with further support at 621.65 and 488.85 based on classic pivot calculations. The Camarilla support levels also indicate strong support at 694.03 and 706.2.

Resistance Levels: Immediate resistance is seen around 754.45, with further resistance at 808.9 and 887.25 based on classic pivot levels. The Woodie pivot resistance levels suggest further resistance at 799.4 and 882.5.

Technical Indicators:

MACD: Currently negative, suggesting a bearish trend.

RSI: At 39.96, indicating the stock is in the oversold territory, which may signal a potential rebound.

ADX: At 16.76, reflecting a weak trend, suggesting low momentum.

Stochastic %K: At 14.36, indicating oversold conditions and a potential for a reversal.

Stochastic RSI: Extremely low at 8.88, which aligns with an oversold condition and could point to a potential upward correction.

CCI: At -91.52, the stock is in the oversold zone, which could signal a buying opportunity if the price starts to rise.

Awesome Oscillator: Negative, which indicates the current bearish momentum.

Williams Percent Range: At -73.6, suggesting oversold conditions.

Bull Bear Power: Negative, indicating a bearish trend.

Moving Averages:

The stock is trading below the 10, 20, 30, and 50-day EMAs and SMAs, which indicates a bearish trend. However, the stock is above the 200-day EMA and SMA, suggesting long-term support.

Chart Patterns and Observations:

Ichimoku Base Line: At 734.23, indicating resistance.

Hull Moving Average: At 699.16, currently below the stock price, showing a short-term bullish trend.

ATR (Average True Range): Volatility is relatively high with recent values ranging between 55.00 and 72.36, indicating that the stock is experiencing significant price swings.

Overall, ITDC shows bearish signals in the short term, with oversold conditions suggesting potential for a rebound. However, the weak ADX and negative MACD signal that the stock may continue to face selling pressure in the near term. Traders should watch for a potential bounce near support levels and monitor for any reversal signals.