TECHNOE - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 2.9
| Stock Code | TECHNOE | Market Cap | 11,586 Cr. | Current Price | 996 ₹ | High / Low | 1,655 ₹ |
| Stock P/E | 25.2 | Book Value | 336 ₹ | Dividend Yield | 0.90 % | ROCE | 16.6 % |
| ROE | 12.9 % | Face Value | 2.00 ₹ | DMA 50 | 1,064 ₹ | DMA 200 | 1,232 ₹ |
| Chg in FII Hold | -0.69 % | Chg in DII Hold | 0.43 % | PAT Qtr | 123 Cr. | PAT Prev Qtr | 98.2 Cr. |
| RSI | 48.9 | MACD | -37.6 | Volume | 11,05,150 | Avg Vol 1Wk | 3,68,534 |
| Low price | 785 ₹ | High price | 1,655 ₹ | PEG Ratio | 1.84 | Debt to equity | 0.01 |
| 52w Index | 24.3 % | Qtr Profit Var | 36.6 % | EPS | 41.6 ₹ | Industry PE | 16.9 |
📊 Chart Patterns: TECHNOE is trading at 996 ₹, well below its 50 DMA (1,064 ₹) and 200 DMA (1,232 ₹). This indicates a bearish structure with the stock struggling to regain momentum after a steep fall from its 52-week high (1,655 ₹).
📈 Moving Averages: Both short-term and long-term averages are above the current price, confirming bearish sentiment. The 50 DMA is below the 200 DMA, signaling a prolonged downtrend.
📉 RSI: At 48.9, RSI is neutral, suggesting neither oversold nor overbought conditions, but leaning towards weakness.
📉 MACD: Strongly negative at -37.6, highlighting bearish divergence and lack of buying strength.
📊 Bollinger Bands: Price is near the lower band, indicating oversold conditions and potential short-term support, but no clear reversal yet.
📊 Volume Trends: Current volume (11 lakh) is significantly higher than average weekly volume (3.6 lakh), suggesting heightened activity, possibly due to selling pressure.
📌 Momentum Signals: Short-term momentum remains bearish. Support lies around 785–800 ₹, while resistance is near 1,050–1,070 ₹.
🎯 Entry Zone: 880–920 ₹ (near support, only for short-term traders with strict stop-loss).
🎯 Exit Zone: 1,050–1,070 ₹ (near 50 DMA resistance).
🔎 Trend Status: The stock is consolidating with bearish bias, not yet showing reversal signals.
Positive
- EPS of 41.6 ₹ indicates profitability.
- Low debt-to-equity ratio (0.01) ensures financial stability.
- Quarterly profit improved from 98.2 Cr. to 123 Cr. (36.6% growth).
- Book value of 336 ₹ provides strong asset backing.
Limitation
- Stock trading below both 50 DMA and 200 DMA shows weak technical strength.
- High P/E ratio (25.2) compared to industry PE (16.9) suggests overvaluation risk.
- 52-week performance index at 24.3% indicates underperformance relative to peers.
Company Negative News
- FII holdings decreased by -0.69%, showing reduced foreign investor confidence.
- Stock price has corrected sharply from 1,655 ₹ high to current levels.
Company Positive News
- DII holdings increased by 0.43%, reflecting domestic institutional support.
- Quarterly PAT growth signals improving operational efficiency.
Industry
- Sector PE at 16.9 indicates moderate valuations compared to TECHNOE’s higher P/E.
- Industry outlook remains stable with demand for engineering and technology services.
Conclusion
⚠️ TECHNOE is consolidating with a bearish bias, trading below key moving averages and showing weak momentum. Short-term traders may consider entry near 880–920 ₹ with strict stop-loss, targeting 1,050–1,070 ₹ resistance. Long-term investors should wait for a clear reversal above 1,064 ₹ (50 DMA) with sustained volume before fresh positions.
Would you like me to also add a trendline-based visual support/resistance map in HTML so you can quickly spot the critical zones?