Jindal Poly Films Limited (JINDALPOLY) Stock - Complete Technical Analysis - Sep 13, 2024

Jindal Poly Films Technical Analysis Key Support and Resistance NSE Stock Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Jindal Poly Films Limited (JINDALPOLY) is currently trading at 808, which places it around 18% below its 52-week high of 983 and 79% above its 52-week low of 449.2. The stock shows a mixed sentiment from a technical perspective, with the RSI hovering around 48.67, suggesting a neutral zone where the stock isn't heavily overbought or oversold. The MACD is positive, indicating a mild bullish momentum, but it's essential to note the low ADX at 16.16, implying a lack of strong trend direction at the moment.

The stock's moving averages suggest it is consolidating. It is currently trading around its 10-day and 30-day simple moving averages, showing some resistance around 814-816 levels based on the exponential moving averages. Additionally, its below both its 20-day and 50-day simple moving averages, pointing to near-term resistance around 833. Downward support levels are visible near the 784 mark, with a stronger base forming closer to 727, where the 100-day EMA sits.

Momentum indicators like the Stochastic Oscillator and Awesome Oscillator are signaling caution, as they point towards weakening bullish pressure. The Stochastic %K at 22.11 suggests that the stock may be in an oversold zone, potentially indicating a reversal if momentum picks up.

In terms of broader trend, the Ichimoku baseline at 863.98 suggests that the stock might face significant resistance if it attempts to break upwards. If the price continues to face rejection around these levels, traders should watch for a potential dip toward the strong support zone near 680-700.

Overall, Jindal Poly Films seems to be in a consolidation phase, and traders should be cautious of its next move, waiting for clearer directional cues from the ADX or a break of key resistance levels.