TRIDENT - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 3.6
| Stock Code | TRIDENT | Market Cap | 12,434 Cr. | Current Price | 24.4 ₹ | High / Low | 34.1 ₹ |
| Stock P/E | 33.1 | Book Value | 9.34 ₹ | Dividend Yield | 2.05 % | ROCE | 9.89 % |
| ROE | 8.03 % | Face Value | 1.00 ₹ | DMA 50 | 25.3 ₹ | DMA 200 | 26.8 ₹ |
| Chg in FII Hold | -0.09 % | Chg in DII Hold | 0.03 % | PAT Qtr | 102 Cr. | PAT Prev Qtr | 42.3 Cr. |
| RSI | 41.0 | MACD | -0.26 | Volume | 61,31,874 | Avg Vol 1Wk | 52,38,225 |
| Low price | 22.0 ₹ | High price | 34.1 ₹ | PEG Ratio | -8.86 | Debt to equity | 0.38 |
| 52w Index | 19.9 % | Qtr Profit Var | -22.6 % | EPS | 0.74 ₹ | Industry PE | 19.7 |
📊 Chart Analysis: TRIDENT trades at ₹24.4, below both its 50 DMA (₹25.3) and 200 DMA (₹26.8), signaling short-term and medium-term weakness. RSI at 41.0 indicates oversold conditions, suggesting potential rebound. MACD at -0.26 is bearish, confirming downward momentum. Bollinger Bands place the price near the lower band, pointing to pressure with scope for short-term bounce. Current volume (61.3L) is higher than the 1-week average (52.4L), showing increased participation during declines.
📈 Momentum Signals: Short-term momentum is bearish with oversold bias. A move above ₹25 could trigger recovery, while a drop below ₹24 risks further downside.
💡 Entry Zone: ₹23.5–₹24.5 (support near recent lows).
🚪 Exit Zone: ₹26–₹27 (resistance near 200 DMA and trendline).
🔎 Trend Status: The stock is reversing downward after failing to sustain above ₹34, with oversold RSI hinting at possible short-term consolidation.
Positive
- 📌 Dividend yield of 2.05% provides steady shareholder returns.
- 📌 ROCE of 9.89% and ROE of 8.03% show moderate efficiency.
- 📌 PAT improved from ₹42.3 Cr. to ₹102 Cr., showing operational recovery.
Limitation
- ⚠️ EPS of ₹0.74 remains weak relative to valuation.
- ⚠️ PEG ratio of -8.86 highlights unsustainable growth outlook.
- ⚠️ Price trading below both 50 DMA and 200 DMA indicates weakness.
Company Negative News
- ❌ Quarterly profit variation at -22.6% shows margin pressure.
- ❌ FII holding decreased (-0.09%), reflecting reduced foreign investor confidence.
Company Positive News
- ✅ DII holding increased (+0.03%), showing minor domestic institutional support.
- ✅ Strong trading volumes indicate investor interest despite weakness.
Industry
- 🌐 Textile and manufacturing sector remains cyclical with demand fluctuations.
- 🌐 Industry PE at 19.7 is lower than TRIDENT’s PE (33.1), suggesting premium valuation.
Conclusion
📌 TRIDENT is reversing downward with bearish signals but oversold RSI suggests potential short-term consolidation. Traders may consider entries near ₹23.5–₹24.5 and exits around ₹26–₹27. While dividend yield and operational recovery provide positives, weak EPS, high valuation, and declining foreign support warrant caution for medium-term investors.
For deeper clarity, we could refine support and resistance mapping, expand on volume analysis to confirm momentum, or dive into RSI and MACD signals for short-term trading cues.