THERMAX - Technical Analysis with Chart Patterns & Indicators

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

Technical Rating: 3.3

Here’s a detailed technical analysis of Thermax Ltd (THERMAX)

📊 Trend Overview

Current Trend: The stock is in a downtrend, showing signs of short-term consolidation near support.

Price Action: Trading at ₹3,330, below both the 50-DMA (₹3,388) and 200-DMA (₹3,631), indicating sustained bearish pressure.

📈 Momentum Indicators

RSI (48.9): Neutral zone, slightly bearish. No strong momentum; hovering near the midpoint.

MACD (-22.4): Deeply negative, confirming bearish sentiment and lack of upward momentum.

Volume: Slightly above average (70K vs 64K), but not enough to signal a reversal or breakout.

📉 Moving Averages

Indicator Value (₹) Signal

50-DMA 3,388 Resistance

200-DMA 3,631 Resistance

Current Price 3,330 Below both DMAs

📌 Bollinger Bands

Price is near the lower band, suggesting oversold conditions.

Could see a technical bounce, but confirmation needed via volume and MACD crossover.

🧭 Support & Resistance Zones

Immediate Support: ₹3,300–₹3,310 zone

Major Support: ₹2,930 (52-week low)

Immediate Resistance: ₹3,388 (50-DMA)

Major Resistance: ₹3,630–₹3,650 (200-DMA), then ₹3,800

🎯 Entry & Exit Zones

Optimal Entry: ₹3,300–₹3,310 (if price stabilizes and MACD flattens)

Exit Zone: ₹3,600–₹3,650 (first resistance), ₹3,800+ if momentum builds

🔍 Conclusion

THERMAX is consolidating after a steep decline from its high of ₹5,721.

RSI and MACD show weak momentum, and price is below key moving averages.

A bounce from ₹3,300 with volume and MACD flattening could signal short-term reversal.

Until then, the stock remains in a neutral-to-bearish phase.

Would you like a comparison with other industrial engineering stocks like ABB or Honeywell Automation?

Edit in a page