Tanla Platforms Limited (TANLA) Stock - Complete Technical Analysis - Dec 02, 2024

Tanla Platforms Technical Analysis Key Support & Resistance Levels Stock Price Action 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. Tanla Platforms Limited (TANLA) has been facing a bearish phase, with the current price at 707.65. Despite trading 43.3% lower than its 52-week high, it remains 6.33% above its recent low, showing some resilience. A Spinning Top candlestick pattern today indicates indecision in market sentiment, which could lead to potential price reversals. On the technical front, the stock is underperforming with the price consistently trading below its short-term and long-term moving averages. The RSI of 39.01 signals an oversold condition, hinting that the stock might be due for a rebound, but the negative momentum of -5.55 and a MACD in the negative zone suggest that the overall trend is still bearish.

In terms of support, the stock has a base near 693-695, which has held recently. Resistance levels to monitor lie around 715-725. If the stock manages to break through this resistance zone, there may be an opportunity for short-term recovery, targeting the 750 mark. On the other hand, if the stock falls below support, the next downside could take it to 650-660. With volatility levels at moderate ranges, traders should be prepared for potential price swings around these levels. Careful monitoring of key levels and technical indicators will be crucial for making informed decisions.