RattanIndia Enterprises Limited (RTNINDIA) Stock - Complete Technical Analysis - Dec 17, 2024

RattanIndia Enterprises Technical Analysis Key Support & Resistance Levels Stock 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. RattanIndia Enterprises Limited (RTNINDIA) has been trading at 69.87, which is currently 26.34% below its 52-week high of 94.85 and 18.02% above its 52-week low of 59.2. In recent trading sessions, the stock has shown some notable volatility, with price swings between a low of 68.85 and a high of 71.00 on Dec 16. This suggests that the stock is currently trading within a range, with short-term consolidation in place. The price recently fell from 72.60 to 70.69 between Dec 10 and Dec 12, indicating a potential temporary bearish correction in the medium term.

Key technical indicators show mixed signals. The ADX value of 27.78 suggests that the stock is in a moderate trend, but not a strong one. The RSI is at 53.13, indicating that the stock is in a neutral zone, neither overbought nor oversold. The MACD reading of 0.88 hints at a potential bullish crossover, indicating possible upside momentum in the near term. The Momentum indicator, currently at 2.68, confirms that upward movement could continue if the stock breaks through immediate resistance levels.

Looking at the chart, the stock has recently tested support near the 68.85 level, which aligns with the 20-day Exponential Moving Average (EMA). A break below this level could trigger further downside towards 67.00. On the upside, the stock faces resistance around 71.00, with additional resistance near 72.11. If the stock clears these resistance levels, it could aim for higher targets, possibly heading towards the 74.56 level.

The ATR indicates that the stock has been volatile recently, with swings of around 14.00 to 20.00 points. This suggests that traders should be prepared for potential price fluctuations. If the stock successfully breaks out of the 71.00 resistance zone, it could signal a return to upward momentum, with further targets near 74.56 and beyond. Conversely, if it fails to hold above the support at 68.50, there could be a risk of a deeper pullback, targeting 67.00 as the next key support level.