RITES - Technical Analysis with Chart Patterns & Indicators

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

Technical Rating: 3.9

Here’s a detailed technical analysis of RITES Ltd

📊 Trend Overview

Current Trend: The stock is in a mild uptrend, trading above both its 50-DMA (₹264) and 200-DMA (₹267), indicating short-term bullish bias.

52-Week Positioning: At 40.8% of its 52-week range (₹192 – ₹384), the stock is in the lower-mid zone, suggesting recovery from lows but still far from its peak.

📈 Momentum Indicators

RSI (57.1): Neutral to bullish. Indicates improving momentum with room for further upside before entering overbought territory.

MACD (3.56): Positive crossover confirms bullish momentum. Histogram is rising, supporting continuation.

Volume: Current volume (4.79L) is significantly below the 1-week average (12.02L), suggesting reduced participation and a need for volume confirmation on any breakout.

📉 Chart Patterns & Moving Averages

Price Action: The stock is consolidating above its moving averages, forming a base near ₹260–₹270. A breakout above ₹275–₹280 could trigger the next leg up.

Support Levels

₹264 – 50-DMA and recent swing low

₹250 – psychological support

Resistance Levels

₹275–₹280 – short-term resistance zone

₹300–₹320 – previous breakdown zone

📌 Bollinger Bands

Price is near the middle band, with bands narrowing. This suggests low volatility and potential for a breakout if volume improves.

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Entry 260–270 Near DMA support and base formation

Exit (Short) 275–280 Resistance zone, potential profit booking

Exit (Long) 300–320 If breakout sustains above ₹280

🔍 Market Behavior

Trending: Mild uptrend, supported by MACD and price above DMAs.

Consolidating: Yes, price is range-bound between ₹260–₹280.

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

🧠 Summary

RITES is technically stable, consolidating above key moving averages with improving momentum indicators. RSI and MACD support upside potential, though volume needs to pick up for a confirmed breakout. Traders may consider accumulating near ₹260–₹270 and watch for breakout above ₹280 for targets toward ₹320.

Let me know if you'd like to compare this with other railway or infrastructure sector plays.

Edit in a page