REDINGTON - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.4

Here’s a detailed technical analysis of Redington Ltd (REDINGTON)

📊 Trend Overview

Current Trend: The stock is in a strong uptrend, trading well above both its 50-DMA (₹260) and 200-DMA (₹249), confirming bullish momentum.

52-Week Positioning: At 73.5% of its 52-week range (₹159 – ₹335), the stock is in the upper zone, indicating sustained strength and potential continuation toward its high.

📈 Momentum Indicators

RSI (69.5): Bullish. Approaching overbought territory, suggesting strong momentum but caution for short-term traders.

MACD (5.17): Positive crossover with rising histogram, confirming bullish momentum and trend continuation.

Volume: Current volume (94.8L) is significantly below the 1-week average (389.5L), indicating reduced participation. A volume spike would strengthen breakout conviction.

📉 Chart Patterns & Moving Averages

Price Action: The stock has formed a breakout pattern above ₹275, with higher highs and higher lows. Trendline support is intact.

Support Levels

₹275 – recent swing low and breakout base

₹260 – 50-DMA and psychological support

Resistance Levels

₹295–₹300 – immediate resistance zone

₹320–₹335 – 52-week high zone

📌 Bollinger Bands

Price is near the upper band, confirming momentum. Bands are widening, suggesting increasing volatility and potential for breakout continuation.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Entry 275–285 Near support and breakout retest zone

Exit (Short) 295–300 Resistance zone, potential profit booking

Exit (Long) 320–335 If breakout sustains above ₹300

🔍 Market Behavior

Trending: Yes, strong bullish trend confirmed by MACD, RSI, and price action.

Consolidating: No, price is expanding with momentum.

Reversing: Not currently. Indicators suggest continuation unless RSI peaks and volume fades.

🧠 Summary

REDINGTON is technically robust, riding a strong uptrend with price action above key moving averages and momentum indicators supporting further upside. Traders may consider accumulating near ₹275–₹285 and watch for breakout above ₹300 for targets toward ₹335.

Let me know if you'd like to compare this setup with peers in IT distribution or mid-cap tech.

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