RITES - IntraDay Trade Analysis

Last Updated Time : 02 Aug 25, 12:58 am

IntraDay Trade Rating: 2.8

RITES shows strong fundamentals and a clean balance sheet, but today’s technical picture lacks bullish energy. With RSI deeply oversold and MACD in the red, this setup leans more toward caution than conviction for intraday trades.

📉 Technical Landscape

Current Price: ₹263

Below both 50 DMA (₹273) and 200 DMA (₹271) → Indicates short-term weakness

RSI: 31.8 → Oversold territory; early signs of exhaustion, but no bounce confirmed yet

MACD: -3.61 → Bearish trend with fading momentum

Volume: 6.25L vs 1W Avg 6.61L → Slightly below normal; tepid interest

📈 Intraday Strategy

✅ If entering fresh trade

Entry Zone: ₹260–₹262 on dip near short-term support

Targets

₹266 → conservative scalp (watch RSI recovery above 35)

₹271 → aggressive exit near 200 DMA if momentum reverses intraday

Stop-Loss: ₹257

🔄 If already holding

Hold only if price stays above ₹262 and volume improves

Exit partially near ₹266 as RSI rebounds

Consider full exit near ₹271 if MACD flattens or candles weaken on approach

Immediate exit below ₹257 if RSI fails to rise and red candles dominate volume

🔍 Fundamental Highlights

Debt-Free with ROCE: 20.8% → Operationally strong

EPS: ₹8.01, P/E: 32.8 vs Industry PE: 23.8 → Slight overvaluation

Dividend Yield: 4.38% → Attractive for longer-term investors

Recent PAT Growth: Positive momentum (+₹33 Cr Q-o-Q) adds support, but not strong enough for intraday catalyst

RITES may reward patient scalpers if a bounce materializes, but it’s not ideal for aggressive intraday plays today unless volume spikes or RSI sharply reverses. Want me to pull stronger alternatives from engineering PSU space or find peers with bullish MACD crossover? I'm game for it 💹📡.

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