RattanIndia Power Limited (RTNPOWER) Stock - Complete Technical Analysis - Sep 10, 2024

RattanIndia Power Stock Analysis: Key Support & Resistance Levels for 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. RattanIndia Power Limited is currently trading at 15.7, which is 25.59% below its 52-week high of 21.1, observed on June 4, 2024. The stock is 151.20% above its 52-week low of 6.25, recorded on September 25, 2023.

The stock's recent price action shows that it is testing significant support around the 15.5 to 16 range. If this support level holds, the stock might attempt a recovery towards resistance levels around 17 to 18.5. Breaking through this resistance could signal further bullish potential.

Technical indicators offer a cautious outlook. The MACD indicates a bearish signal, and the RSI is neutral but leaning towards the lower side. The Stochastic %K and Stochastic RSI are in oversold territory, which could imply that the stock is due for a potential rebound. However, the Commodity Channel Index and Awesome Oscillator suggest continued weakness. The Williams Percent Range and Bull Bear Power further support a bearish outlook.

With an ADX reading showing weak trend strength and an Ultimate Oscillator indicating potential oversold conditions, traders should watch for any signs of trend reversal or confirmation of support levels.

In summary, RattanIndia Power Limited is currently testing support around 15.5 to 16. If this support holds, it may see a move towards resistance at 17 to 18.5. Given the mixed technical indicators, traders should monitor for signs of trend reversal or confirmation of these levels for better trading decisions.