TRIDENT - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 3.0
| Stock Code | TRIDENT | Market Cap | 13,193 Cr. | Current Price | 25.9 ₹ | High / Low | 34.6 ₹ |
| Stock P/E | 29.9 | Book Value | 9.04 ₹ | Dividend Yield | 1.93 % | ROCE | 9.45 % |
| ROE | 8.18 % | Face Value | 1.00 ₹ | DMA 50 | 26.7 ₹ | DMA 200 | 28.6 ₹ |
| Chg in FII Hold | 0.11 % | Chg in DII Hold | 0.04 % | PAT Qtr | 92.4 Cr. | PAT Prev Qtr | 139 Cr. |
| RSI | 47.4 | MACD | -0.30 | Volume | 3,54,53,539 | Avg Vol 1Wk | 1,47,69,790 |
| Low price | 23.1 ₹ | High price | 34.6 ₹ | PEG Ratio | -1.27 | Debt to equity | 0.34 |
| 52w Index | 24.0 % | Qtr Profit Var | 10.7 % | EPS | 0.87 ₹ | Industry PE | 17.6 |
📊 Chart Patterns: TRIDENT is trading at 25.9 ₹, below both 50 DMA (26.7 ₹) and 200 DMA (28.6 ₹). The price has corrected from its 52-week high (34.6 ₹) and is consolidating near support levels, showing weak momentum.
📈 Moving Averages: Current price is under both short-term and long-term averages, confirming bearish sentiment. A breakout above 27–28 ₹ could indicate recovery, while failure to hold 25 ₹ may trigger further downside.
📉 RSI: At 47.4, RSI suggests neutral-to-weak momentum, neither oversold nor overbought.
📉 MACD: Slightly negative at -0.30, showing mild bearish divergence and lack of strong buying signals.
📊 Bollinger Bands: Price is near the lower band, indicating oversold conditions and possible short-term support.
📊 Volume Trends: Current volume (3.54 crore) is significantly higher than average weekly volume (1.47 crore), suggesting heightened activity, possibly due to selling pressure.
📌 Momentum Signals: Short-term momentum remains weak. Support lies around 23–24 ₹, while resistance is near 27–28 ₹.
🎯 Entry Zone: 24–25 ₹ (near support, only for short-term traders with strict stop-loss).
🎯 Exit Zone: 27–28 ₹ (near 50 DMA resistance).
🔎 Trend Status: The stock is consolidating with bearish bias, awaiting breakout direction.
Positive
- Dividend yield of 1.93% provides shareholder returns.
- FII holdings increased by 0.11% and DII holdings by 0.04%, showing slight institutional support.
- Quarterly PAT at 92.4 Cr. indicates profitability despite decline.
Limitation
- Stock trading below both 50 DMA and 200 DMA shows weak technical strength.
- EPS of 0.87 ₹ is low compared to peers.
- ROCE (9.45%) and ROE (8.18%) reflect modest efficiency.
- PEG ratio of -1.27 signals poor growth relative to valuation.
Company Negative News
- Quarterly PAT declined from 139 Cr. to 92.4 Cr.
- Stock price corrected from 34.6 ₹ high to current levels.
Company Positive News
- Quarterly profit variation shows improvement of 10.7% sequentially.
- Dividend payout continues, enhancing shareholder value.
Industry
- Industry PE at 17.6 suggests sector trades at lower valuations compared to TRIDENT’s P/E of 29.9.
- Textiles sector remains cyclical but supported by export demand.
Conclusion
⚠️ TRIDENT is consolidating with a bearish bias, trading below key moving averages and showing weak momentum. Short-term traders may consider entry near 24–25 ₹ with strict stop-loss, targeting 27–28 ₹ resistance. Long-term investors should wait for a clear reversal above 26.7 ₹ (50 DMA) with sustained volume before fresh positions.