Thejo Engineering Limited (THEJO) Stock - Complete Technical Analysis - Sep 12, 2024

Thejo Engineering Limited (THEJO) Stock Analysis Key Support & Resistance Levels NSE Technical I

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.

Let's dive into the technical analysis for Thejo Engineering Limited (THEJO). Currently trading at 2738.45, the stock is 26.15% below its 52-week high of 3707.9 and 66.47% above its 52-week low of 1645.0.

Starting with the Moving Averages, the stock is below its short-term Exponential Moving Averages (EMAs) of 10, 20, and 30 periods, suggesting a bearish trend. The current price is also below the 50-period EMA and the 200-period EMA, indicating a potential downtrend or consolidation phase. The Simple Moving Averages (SMAs) show a similar pattern, with the stock trading below the 10, 20, 30, and 50-period SMAs but above the 200-period SMA, which suggests a mixed trend with a slight bearish bias.

The Average Directional Index (ADX) at 24.05 indicates a moderate trend strength, while the Relative Strength Index (RSI) at 47.78 shows the stock is neither overbought nor oversold, hovering around neutral territory. The Stochastic %K is at 34.98, and the Stochastic RSI Fast is at 68.02, suggesting the stock might be moving towards an oversold condition.

The MACD level of -75.38 indicates a bearish momentum, while the Awesome Oscillator at -174.4 also supports this negative momentum. The Commodity Channel Index (CCI) is close to zero at 2.77, which doesn't indicate any strong trend direction. The Williams Percent Range at -33.8 shows that the stock might be nearing an oversold condition.

Pivot points suggest key levels for traders to watch. The Classic Pivot Point is 2813.52, with resistance levels around 3002.03 and support levels around 2452.03. The Camarilla and Fibonacci pivot points confirm these levels, reinforcing the significance of 2813.52 as a central point.

The Hull Moving Average at 2654.36 and the Volume Weighted Moving Average (VWMA) at 2719.09 indicate that the stock might be consolidating around these averages. The Ichimoku Base Line at 2859.28 suggests that the price is below this line, reflecting a bearish sentiment.

In summary, Thejo Engineering Limited is currently in a bearish phase with key support and resistance levels to monitor. Traders should watch the price action around the pivot points and moving averages to gauge potential reversal or continuation patterns.