Vodafone Idea’s technical analysis for intraday trading on January 16, 2025, indicates a bearish sentiment based on recent indicators and price movements.
Current Price Overview
- Last Traded Price: ₹7.92
- Previous Close: ₹7.99
- Intraday Change: -0.88% from the previous close1.
Technical Indicators
Moving Averages
- 10-Day EMA: A bearish crossover signal was generated on January 9, 2025, with the average price declining by approximately -4.59% within seven days historically following such signals.
- 5-Day EMA: Another bearish signal appeared on January 8, 2025, with an average decline of -5.22% within the same timeframe.
MACD and Stochastic Indicators
- MACD: A bullish signal was noted on the weekly chart as of January 3, 2025, but it remains in negative territory.
- Stochastic Indicator: Also bullish on a weekly basis, indicating potential upward momentum despite current bearish signals.
Relative Strength Index (RSI)
- The RSI is currently at approximately 45.89, suggesting a neutral position but leaning towards oversold conditions, which may indicate a potential for recovery if buying pressure increases.
Support and Resistance Levels
- Pivot Level: ₹8.10
- Resistance Levels:
- R1: ₹8.22
- R2: ₹8.30
- R3: ₹8.50
- Support Levels:
Trading Volume and Market Sentiment
The trading volume has been significant, reflecting active participation in the market. However, the stock’s performance over the past year shows a decline of approximately -52%, indicating ongoing challenges in market sentiment towards Vodafone Idea due to its financial struggles and competitive pressures.
Conclusion
Overall, Vodafone Idea’s technical analysis for today suggests a cautious approach for intraday trading. The bearish signals from moving averages combined with neutral RSI levels indicate potential volatility. Traders should monitor key support and resistance levels closely while considering the broader market context and recent performance trends before making trading decisions.
