Jay Bharat Maruti Limited (JAYBARMARU) Stock - Complete Technical Analysis - Sep 02, 2024

Jay Bharat Maruti Stock Analysis: Key Support

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.

Jay Bharat Maruti Limited's stock, currently priced at 104, shows a mix of technical signals. The stock's P/E ratio is 34.6, indicating it may be trading at a premium. Looking at the chart, the immediate support levels are around 98.78 and 92.31, while resistance is near 116.66 and 128.07.

The Average Directional Index (ADX) at 9.52 suggests a weak trend. The Relative Strength Index (RSI) of 39.46 is near the lower threshold, indicating the stock might be oversold. The MACD is negative, which signals bearish momentum, and the Awesome Oscillator also confirms this downtrend.

Moving averages provide mixed signals: the stock is below the Exponential Moving Averages (EMA) of 10, 20, 30, 50, and even the 200-day EMA, indicating a potential bearish phase. However, the price is just above the Hull Moving Average (HMA) of 104.62, suggesting possible support at this level.

Pivot points reveal that the stock is currently trading below the Classic and Fibonacci pivot points but above Camarilla S1 and Woodie S1 levels. The Average True Range (ATR) shows moderate volatility.

The Stochastic indicators show the stock is in the oversold zone, with the Stochastic %K and Stochastic RSI indicating potential for a reversal. The Williams Percent Range is extremely low, reinforcing the oversold condition.

Overall, Jay Bharat Maruti's stock is experiencing bearish momentum with several technical indicators suggesting possible support and resistance levels that traders should watch closely.