Johnson Controls - Hitachi Air Conditioning India Limited (JCHAC) Stock - Complete Technical Analysis - Aug 30, 2024

Johnson Controls - Hitachi Air Conditioning India Ltd: Detailed Technical Analysis

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. Let's dive into the technical analysis of Johnson Controls - Hitachi Air Conditioning India Limited (JCHAC). The stock is currently trading at 1925.85, which is approximately 15.13% below its 52-week high of 2269.05 and 102.43% above its 52-week low of 951.35.

Support and Resistance Levels:

Immediate Support: The Classic Pivot Support 1 (S1) is at 1847.42, while Camarilla S1 is at 1994.53.

Immediate Resistance: The Classic Pivot Resistance 1 (R1) is at 2241.47, with Camarilla R1 at 2066.77.

Moving Averages:

Short-Term Trend: The stock's short-term trend is indicated by the 10-day and 20-day Exponential Moving Averages (EMA), which are at 1905.19 and 1920.57, respectively. The stock is currently trading just below these levels, suggesting a potential resistance zone.

Medium-Term Trend: The 50-day EMA is at 1886.66, while the 100-day EMA is at 1733.52. Both these levels act as key support and resistance indicators.

Long-Term Trend: The 200-day EMA is at 1537.41, indicating a longer-term support level.

Pivot Points:

Classic Pivot Point (P): 2058.23

Fibonacci Pivot R1: 2208.76

Woodie Pivot R1: 2240.88

Technical Indicators:

MACD: The MACD level is currently negative, indicating a bearish trend.

RSI: The Relative Strength Index (RSI) is at 50.1, suggesting the stock is neither overbought nor oversold.

ADX: The Average Directional Index (ADX) is at 20.17, indicating a weak trend.

Stochastic: The Stochastic %K is at 34.01, suggesting the stock is in the oversold territory.

Awesome Oscillator: The Awesome Oscillator is negative, confirming bearish momentum.

Williams Percent Range (WPR): At -51.52, indicating the stock is neither in an overbought nor oversold condition.

Chart Patterns:

Ichimoku Base Line: At 2035.73, this level might act as a significant resistance.

Hull Moving Average: The 9-day Hull Moving Average is at 1912.02, which is near the current price, suggesting a potential support level.

Volatility:

Average True Range (ATR): Recent ATR values show significant volatility, ranging between 185.81 and 537.70. This indicates the stock has experienced both high and low volatility over the past period.

Overall Observations:

The stock is trading above its short-term moving averages but below its longer-term moving averages, indicating mixed signals.

With the current RSI and stochastic indicators, the stock might be consolidating or preparing for a move based on broader market conditions.

In summary, while JCHAC is experiencing some resistance near the recent highs, it also has strong support levels below. Traders should watch the key resistance and support levels closely, as well as the broader market trends to gauge potential price movements.