RITES - Technical Analysis

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

📊 Technical Analysis for RITES Ltd (RITES) Technical Rating: 2.9

📉 Trend Overview

Current Price: ₹263

50 DMA: ₹273 → Price below short-term average

200 DMA: ₹271 → Price below long-term average

Trend Status: Reversing downward after failed attempts to hold above key averages

🔍 Momentum Indicators

RSI (31.8): Approaching oversold territory → bearish sentiment

MACD (-3.61): Negative and diverging → strong bearish momentum

Bollinger Bands: Price near lower band → oversold conditions, possible bounce

Volume: 6.25L vs 1-week avg of 6.61L → slightly below average, weak conviction

📌 Support & Resistance Zones

Level Price (₹)

Support 1 258–260

Support 2 248–250

Resistance 1 268–270

Resistance 2 273–275 (50 DMA)

Trendline Support: Sloping down from ₹273 through ₹260

Breakout Zone: ₹275–280

Consolidation Zone: ₹260–270

🎯 Entry & Exit Strategy

Optimal Entry: ₹258–262 (near support, oversold RSI)

Exit Zone: ₹270–275 (approaching resistance)

Stop Loss: ₹248 (below key support)

⚡ Short-Term Signals

Momentum: Weak; RSI and MACD both bearish

Volume: Slightly declining; no accumulation signs

Price Action: Lower highs and lower lows

Volatility: Expanding Bollinger Bands → possible sharp move

🧭 Conclusion

RITES Ltd is currently reversing from a previous uptrend and showing signs of weakness. Technical indicators suggest caution, with bearish momentum and price trading below key moving averages. A short-term bounce from oversold levels is possible, but confirmation via volume and MACD reversal is essential before considering a bullish stance.

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