RKFORGE - Technical Analysis

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

📊 Technical Analysis for Ramkrishna Forgings Ltd (RKFORGE) Technical Rating: 2.8

📉 Trend Overview

Current Price: ₹599

50 DMA: ₹647 → Price below short-term average

200 DMA: ₹725 → Price well below long-term average

Trend Status: Reversing downward after a steep correction from 52-week high

🔍 Momentum Indicators

RSI (32.7): Near oversold zone → bearish sentiment

MACD (-9.75): Strong negative crossover → downward momentum

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

Volume: 6.6L vs 1-week avg of 5.0L → above-average activity, but likely driven by selling pressure

📌 Support & Resistance Zones

Level Price (₹)

Support 1 580–585

Support 2 553–560 (52W Low)

Resistance 1 615–620

Resistance 2 647–650 (50 DMA)

Trendline Support: Sloping down from ₹647 through ₹585

Breakout Zone: ₹620+

Consolidation Zone: ₹585–615

🎯 Entry & Exit Strategy

Optimal Entry: ₹580–590 (near support, oversold RSI)

Exit Zone: ₹615–630 (approaching resistance)

Stop Loss: ₹553 (below 52W low)

⚡ Short-Term Signals

Momentum: Weak; MACD and RSI both bearish

Volume Spike: Likely driven by distribution, not accumulation

Price Action: Lower highs and lower lows

Volatility: Expanding Bollinger Bands → potential sharp move

🧭 Conclusion

RKFORGE is currently reversing from its previous uptrend and showing signs of technical weakness. 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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