Tilaknagar Industries Limited (TI) Stock - Complete Technical Analysis - Dec 05, 2024

Tilaknagar Industries Technical Analysis: Key Support & Resistance Levels + Market Trends Dec 202

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. Tilaknagar Industries Limited (TI) has been trading in a tight range recently, with the stock currently at 394.5. The Spinning Top pattern today suggests some indecision in the market. Despite this, the stock has shown solid support levels and a strong momentum backed by technical indicators. The RSI is nearing the overbought zone, but still not at extreme levels, implying the potential for more bullish action.

Looking at moving averages, the short-term support is around the 10-day EMA (390.47), and longer-term support is found at the 50-day EMA (335.97). With a strong MACD level at 25.02, the stock continues to exhibit positive momentum. However, the market might face a brief consolidation phase as indicated by the current Spinning Top pattern. Traders should be cautious of potential price fluctuations, especially with the ATR showing relatively high volatility.

The critical resistance for TI lies near the 52-week high of 428.9, with immediate resistance around 408, the recent high. On the downside, traders should watch the pivot levels closely for signs of a reversal. A break below the 374.45 pivot could signal further downside, while a push above 400 could lead to further price appreciation. Keep an eye on both the momentum indicators and market conditions to identify the right entry or exit points.