Rallis India Limited (RALLIS) Stock - Complete Technical Analysis - Sep 10, 2024

Rallis India Stock Analysis: Key Support & Resistance Levels to Watch in September 2024

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 is currently trading at 337, which is about 9.70% below its 52-week high of 373.2, recorded on August 6, 2024. The stock is also approximately 64.31% above its 52-week low of 205.1, seen on October 25, 2023.

In terms of technical analysis, Rallis India is facing resistance around 340 to 350. This resistance level aligns with various key moving averages and pivot points, suggesting it could be a significant barrier for the stock to overcome. Should the stock manage to break above this resistance, the next significant resistance may come into play around 360 to 370.

On the support side, the stock finds critical support in the range of 320 to 330. This zone is bolstered by several moving averages and technical levels. If the stock falls below this support level, further declines could be expected with additional support around 300 to 310.

The technical indicators present a mixed outlook. The MACD is showing a slight positive momentum, but the RSI suggests that the stock is approaching a neutral level. The Stochastic and Stochastic RSI indicate oversold conditions, which could imply a potential bounce or consolidation. The Commodity Channel Index and Awesome Oscillator are both showing bearish signals, hinting at potential downward pressure. The Williams Percent Range suggests the stock is deeply oversold, while the Ultimate Oscillator is showing a neutral stance.

Overall, Rallis India Limited is encountering resistance near 340 to 350 and has support around 320 to 330. Traders should keep a close watch on these levels for potential breakout or breakdown opportunities and monitor technical indicators for additional confirmation of market trends.