Jubilant Industries Limited (JUBLINDS) Stock - Complete Technical Analysis - Aug 30, 2024

Jubilant Industries Limited Stock Analysis Technical Outlook

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.

Jubilant Industries Limited (JUBLINDS) has been performing robustly in the market. Currently trading at 1,721, the stock is 7.66% below its 52-week high of 1,863.9 and 221.26% above its 52-week low of 535.75.

In terms of technical indicators, the stock exhibits a strong trend. The Average Directional Index (ADX) is high, suggesting a strong trend presence. The RSI is in the upper range, indicating that the stock is nearing overbought conditions. The Stochastic %K and Stochastic RSI are both pointing towards a bullish scenario, though they are not yet in the overbought territory.

The MACD shows a strong bullish momentum, and the Awesome Oscillator is positive, reinforcing the bullish sentiment. The Momentum indicator is also high, supporting the current upward trend.

On the moving averages front, the stock is trading above its short-term moving averages, such as the 10-day and 20-day EMAs and SMAs, signaling a strong upward momentum. The price is well above the 50-day and 200-day moving averages, further confirming a bullish outlook.

Support levels are observed at Classic Pivot S1 of 1,380, Camarilla Pivot S1 of 1,453.19, and Fibonacci Pivot S1 of 1,436.59. Resistance levels are seen at Classic Pivot R1 of 1,625.45, Camarilla Pivot R3 of 1,543.04, and Fibonacci Pivot R2 of 1,681.64.

The ATR indicates high volatility, suggesting that the stock may experience significant price swings.

Overall, Jubilant Industries Limited is showing strong bullish signals across various technical indicators, though it is approaching overbought conditions. Traders should monitor the support levels for potential buying opportunities if the stock pulls back, and watch for resistance levels as potential targets or points of profit-taking.