Jyoti Structures Limited (JYOTISTRUC) Stock - Complete Technical Analysis - Aug 30, 2024

Jyoti Structures Ltd Stock Analysis Support, Resistance,

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.

Technical Analysis of Jyoti Structures Limited (JYOTISTRUC)

As of today, Jyoti Structures Limited is trading at 28.7, down 15.34% from its 52-week high of 33.9 and up 19.63% from its 52-week low of 23.99.

Support and Resistance Levels:

Support Levels: Key support levels are around 25.96 (Classic Pivot S1), 22.24 (Classic Pivot S2), and 16.65 (Classic Pivot S3). For additional confirmation, consider Camarilla Pivot S1 at 29.18 and Fibonacci Pivot S1 at 25.69.

Resistance Levels: Major resistance levels are found at 31.55 (Classic Pivot R1), 33.42 (Classic Pivot R2), and 39.01 (Classic Pivot R3). Camarilla Pivot R1 stands at 30.2, with Camarilla R2 at 30.71, and Woodie Pivot R1 at 32.75.

Technical Indicators:

Moving Averages: The stock is currently trading above the 10-day EMA (28.43) and the 20-day EMA (27.96), indicating short-term bullishness. However, it remains below the 50-day EMA (27.28) and the 200-day EMA (23.53), suggesting mixed to bearish medium to long-term trends.

MACD: The MACD is positive, indicating potential bullish momentum.

RSI: The Relative Strength Index is at 54.44, suggesting the stock is in a neutral range.

Stochastic Oscillator: The Stochastic %K is at 75.2 and the Stochastic RSI Fast is at 82.29, indicating that the stock might be in an overbought condition.

ADX: The Average Directional Index is at 15.44, showing weak trend strength.

Awesome Oscillator: The Awesome Oscillator is positive at 1.98, reinforcing the bullish sentiment.

Commodity Channel Index (CCI): The CCI is at 75.95, which suggests that the stock is in a strong trend phase.

Chart Patterns and Observations:

The stock is trading near its Volume Weighted Moving Average (28.1) and Hull Moving Average (29.42), suggesting it could face resistance around these levels.

Average True Range (ATR): The ATR suggests volatility, with recent readings around 19.09 to 24.17, indicating that price swings can be expected.

Overall, Jyoti Structures Limited shows mixed signals with bullish short-term indicators but potential resistance at key levels. Traders should monitor these levels closely for potential breakouts or reversals.