Triveni Engineering & Industries Limited (TRIVENI) Stock - Complete Technical Analysis - Dec 18, 2024

Triveni Engineering Stock Analysis: Key Levels, Trends & Patterns to Watch TRIVENI NSE Technical

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 Engineering & Industries Limited (TRIVENI) has demonstrated a notable recovery from its 52-week low of 267.50, currently trading at 458.75. The stock's technical indicators point toward continued bullish momentum, supported by the ADX at 32, suggesting a strong trend. The RSI is hovering at 62.71, indicating a favorable position without being overbought, giving room for further price appreciation.

A recent Bullish Harami pattern indicates a potential upward shift in price, while the Spinning Top pattern observed today signals market indecision, which could mean traders should watch for price breaks to confirm the next move. On the upside, resistance levels at 466.70 and the 52-week high of 518.00 will be crucial. On the downside, the stock has strong support at 450.00, which acted as a floor recently.

Looking at the moving averages, the stock is trading above key levels like the 10-day and 50-day exponential moving averages, supporting short-term bullishness. The ATR indicates moderate volatility, with recent fluctuations ranging between 60-80 points, suggesting that traders should be prepared for some price action.

In conclusion, Triveni Engineering presents a bullish outlook, with key resistance levels to watch for confirmation of a breakout and support to safeguard against downside risk.