Jindal Poly Films Limited (JINDALPOLY) Stock - Complete Technical Analysis - Aug 30, 2024

Jindal Poly Films Technical Analysis: Bullish Signals

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 801. The stock has been showing mixed signals with several key technical indicators.

Support and Resistance Levels:

Support Levels: 738.82 (Classic Pivot S1), 610.93 (Classic Pivot S2), 411.98 (Classic Pivot S3)

Resistance Levels: 938.77 (Classic Pivot R1), 1011.83 (Classic Pivot R2), 1211.78 (Classic Pivot R3)

Technical Indicators:

MACD: The MACD level is currently showing a positive value, suggesting potential bullish momentum.

RSI: The Relative Strength Index (RSI) is near 48.1, indicating that the stock is in a neutral to slightly oversold condition.

ADX: The Average Directional Index (ADX) is at 22.68, suggesting a weak trend or consolidation.

Stochastic %K: At 23.45, the Stochastic %K indicates that the stock is in the oversold territory, which could suggest a potential buying opportunity.

Stochastic RSI: With a value of 5.47, the Stochastic RSI is also indicating oversold conditions.

Commodity Channel Index (CCI): The CCI is at -32.78, showing that the stock is in a neutral zone.

Awesome Oscillator: The Awesome Oscillator at 21.94 indicates bullish momentum.

Williams Percent Range (W%R): At -76.29, the stock is in the oversold region.

Bull Bear Power: The negative value of -59.93 suggests bearish pressure.

Ultimate Oscillator: At 33.53, it indicates potential weakness in the current trend.

Moving Averages:

Short-Term Averages: The 10-day EMA is at 831.33, while the 20-day EMA is at 825.36, both higher than the current price, indicating a potential resistance zone.

Long-Term Averages: The 50-day EMA is at 772.87, suggesting support, with the 200-day EMA at 670.64 providing long-term support.

Pivot Points:

Classic Pivot Point: 811.88

Camarilla Pivot Point: 811.88

Fibonacci Pivot Point: 811.88

Woodie Pivot Point: 829.06

Chart Patterns:

Bullish Harami: The recent pattern indicates a potential reversal to the upside, suggesting that the stock might see an upward trend.

Spinning Top: The current day's candle is a Spinning Top, reflecting indecision in the market and suggesting that traders should watch for further confirmation of the direction.

Volatility:

ATR (14): The Average True Range has been fluctuating, with recent values showing higher volatility, indicating potential large price swings.

In summary, Jindal Poly Films is experiencing mixed technical signals with key support and resistance levels highlighted. The bullish Harami pattern and the Spinning Top suggest potential reversal and indecision. Traders should be cautious and look for confirmation before making significant moves.