Jubilant Industries Limited (JUBLINDS) Stock - Complete Technical Analysis - Oct 01, 2024

Jubilant Industries Technical Analysis: Watch for Key Price Levels

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 has experienced notable volatility recently, currently trading around 1,650, which is 15.26% below its 52-week high of 1,947 reached on September 10, 2024, and 207.97% above its 52-week low of 535.75 recorded on October 26, 2023. This substantial rise from its low highlights a strong bullish momentum over the past year.

In terms of recent price action, we can observe some fluctuations over the past few days. The stock opened at 1,678.65 today, with a low of 1,645 and a high of 1,680, closing at 1,649.95. The prior day's trading saw the stock oscillating between 1,650 and 1,698, indicating a recent struggle to maintain upward momentum. The previous high of 1,698 on September 30 was followed by a lower close, suggesting potential resistance around the 1,700 mark.

From a technical standpoint, the MACD indicates a bearish trend, while the RSI is in neutral territory at 43.71, suggesting no immediate overbought or oversold conditions. The Stochastic indicators signal a potential continuation of the downward trend, especially with the Stochastic %K at 4.47. The Average Directional Index (ADX) stands at 32.79, indicating a strong trend, albeit the direction remains unclear due to the mixed signals from other indicators.

Looking at support and resistance levels, immediate support is found around 1,645, while resistance appears significant at 1,700, as evidenced by recent trading patterns. The stock's recent volatility is reflected in the Average True Range (ATR) values, which are fluctuating, indicating that traders should be prepared for potential price swings.

Overall, traders should watch for price action around the key levels of 1,645 and 1,700. A sustained move above 1,700 could pave the way for a bullish trend, while a drop below 1,645 might signal further downside potential.