Tilaknagar Industries Limited (TI) Stock - Complete Technical Analysis - Sep 11, 2024

Tilaknagar Industries (TI) Stock Analysis: Key Support & Resistance Levels Unveiled

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.

Technical Analysis of Tilaknagar Industries Limited (TI)

Currently trading at 315, Tilaknagar Industries Limited is showing an impressive 77.80% increase from its 52-week low of 177.0 and is trading 3.32% below its 52-week high of 325.5. This stock has demonstrated strong performance with a P/E ratio of 37.0, a book value of 34.5, and a robust ROCE and ROE of 22.6% and 25.4%, respectively.

Support and Resistance Levels:

Support Levels: The stock has notable support around 294.62 and 259.43, based on classic pivot points. The Camarilla and Fibonacci pivots suggest additional support at 269.27 and 238.25, respectively.

Resistance Levels: Resistance is seen near 314.88 and 370.33 according to classic pivots. Camarilla resistance levels at 284.52 and Fibonacci resistance at 293.7 are also key levels to watch.

Technical Indicators:

MACD: The MACD is positive, indicating strong bullish momentum.

RSI: The RSI is in the overbought range, suggesting the stock may be due for a correction or consolidation.

Stochastic Oscillator: The Stochastic %K is high, indicating that the stock might be in overbought territory.

ADX: A high ADX value signifies a strong trend, reinforcing the current uptrend.

Moving Averages: The stock is trading above its long-term moving averages, indicating a bullish trend. However, it is below the short-term EMA, suggesting potential short-term resistance.

Chart Patterns: An Inside Candle pattern formed on September 10, 2024, with the stock trading within this range for 2 days. This pattern suggests potential for either a breakout or consolidation, depending on subsequent price action.

Summary: Tilaknagar Industries Limited has shown strong performance with bullish indicators. The high RSI and Stochastic values suggest the stock may be overbought, while the positive MACD and high ADX indicate a strong trend. Traders should watch key support and resistance levels and be cautious of potential short-term corrections.