Transport Corporation of India Limited (TCI) Stock - Complete Technical Analysis - Dec 03, 2024

Transport Corporation of India Stock Analysis Key Levels & Trading 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.

Transport Corporation of India Limited (TCI) has exhibited consistent bullish trends, trading near its short-term resistance levels. Currently priced at 1135, the stock benefits from strong fundamentals with a ROCE of 20.4% and ROE of 19.3%. Its technical landscape reveals mixed signals. While RSI at 55.81 points to neutral momentum, MACD displays bearish sentiment, indicating potential consolidation. The ADX level of 17.63 confirms a weak trend, reinforcing the likelihood of range-bound movements unless significant triggers emerge.

Support is firmly established around 1085, aligning with key EMA levels, while resistance looms near 1190. The presence of bullish gaps in the last five sessions suggests robust buying activity. Awesome Oscillator and Stochastic %K are signaling caution, hinting at potential pullbacks, especially if selling pressure intensifies at current levels.

Traders should focus on breakout scenarios, with Fibonacci and pivot resistance levels highlighting 1194 as a critical breakout point. For intraday setups, the stock's range volatility and consistent price action provide ample opportunities. With TCI's price action showing proximity to its Ichimoku base line, any upward momentum could accelerate rapidly, pushing it closer to its 52-week high of 1244.4. However, any break below the 1085 support zone might lead to bearish reversals, with the next target near 1050.