Tube Investments of India is exhibiting a strong bearish trend, characterized by lower highs and lower lows. Bearish candles have formed over the past three sessions, indicating persistent selling pressure.
The MACD remains negative, signaling weak momentum, while the RSI near 32 suggests oversold conditions without signs of recovery.
The stock’s decline below key EMAs further confirms the negative sentiment. High trading volumes reflect continued selling interest.
Considering these factors, it is advisable to avoid the stock until it demonstrates signs of a potential reversal or holds above the 3,000 level. Waiting for a clear trend shift is recommended.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)
