JSW Infrastructure Limited (JSWINFRA) Stock - Complete Technical Analysis - Sep 25, 2024

JSW Infrastructure Limited Technical Analysis: Bearish Signals and Key Levels Revealed

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, currently trading at 339.80, shows mixed signals in its technical analysis. The stock is experiencing a bearish sentiment as indicated by recent price action, including the formation of a Bearish Engulfing pattern and an Evening Star, both suggesting potential downside. Support is identified at the Classic Pivot level of approximately 325, with further support near the Ichimoku Base Line around 327. On the resistance front, key levels are observed around 341 and 352, which could prove challenging for the stock to breach in the short term.

In terms of momentum indicators, the RSI is currently in a neutral zone, indicating that the stock could either consolidate or face potential selling pressure. The Stochastic readings are showing overbought conditions, hinting at a possible pullback. The MACD suggests bullish momentum, but the overall trend is weakening, as evidenced by the ADX indicating a declining trend strength.

The Average True Range indicates increased volatility, suggesting traders should exercise caution and be prepared for potential price swings. Overall, while the stock has shown strong recovery from its 52-week low, recent bearish patterns and market indicators suggest that traders should closely monitor these support and resistance levels before making decisions.