JSW Infrastructure Limited (JSWINFRA) Stock - Complete Technical Analysis - Sep 17, 2024

JSW Infrastructure Stock Analysis Support & Resistance Bullish Momentum or Reversal Ahead

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.

JSW Infrastructure Limited (JSWINFRA) is currently trading at 336, which is around 6.94% below its 52-week high. The stock has shown significant upward movement, being 136.22% above its 52-week low. From a technical perspective, the Relative Strength Index (RSI) suggests the stock is nearing overbought conditions, indicating a potential slowdown in the bullish momentum. The Average Directional Index (ADX) shows that the stocks trend strength is moderate, hinting at possible sideways movement or consolidation in the near term. The MACD continues to remain in positive territory, signaling bullish momentum, while the Commodity Channel Index (CCI) is showing an overbought condition, which could trigger some profit-taking.

The stock has formed higher support levels near the 320 mark, suggesting strong buying interest at lower levels. On the resistance side, a critical zone lies around 340-345, where previous highs and moving averages converge, potentially leading to a breakout or rejection. The Awesome Oscillator and Stochastic indicators also align with short-term bullish momentum, though caution is advised with the current overbought signals from Williams Percent Range. As the stock approaches its upper resistance levels, traders should watch for any trend reversals or consolidations. Key price levels around 330 will likely serve as support if any pullback occurs.

Overall, JSWINFRA appears to be in a strong uptrend with near-term resistance around 340. Traders should be cautious of overbought conditions and use moving averages and support zones to guide their decisions.