Triveni Turbine Limited (TRITURBINE) Stock - Complete Technical Analysis - Dec 16, 2024

Triveni Turbine Stock Analysis: Key Support and Resistance Levels to Watch

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.

Triveni Turbine Limited (TITAGARH) is showing strong bullish momentum as it trades at 1,308, near its 52-week high. The stock has experienced an upward trend supported by positive indicators such as RSI, MACD, and Awesome Oscillator, all indicating the potential for continued gains. However, caution is warranted due to the RSI nearing overbought levels and the formation of a spinning top candlestick, suggesting indecision in the market.

Support levels are present at 1,290 and 1,240, and these should be monitored closely for any price action. If the stock breaks below 1,290, it could lead to a pullback towards 1,240. Resistance at 1,350 is crucial; a breakout above this level could push the stock further upwards towards the 52-week high. Traders should remain cautious and wait for confirmation above resistance before making any new buys. Patience is key, as the stock may consolidate before any further moves.