JSW Infrastructure Limited (JSWINFRA) Stock - Complete Technical Analysis - Oct 15, 2024

JSW Infrastructure Technical Analysis: Key Support & Resistance Insights

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 is currently trading at 322.80, reflecting a minor drop below the previous close. The stock is 10.57% below its 52-week high of 360.95 and impressively 99.20% above its 52-week low of 162.05. Recent trading activity shows a slight bullish momentum, but indicators suggest caution. The stock has experienced sudden price fluctuations over the past week, with a notable high of 328.85.

Examining key technical indicators, the Relative Strength Index (RSI) stands at 46.93, indicating the stock is nearing neutral territory but not yet oversold or overbought. The Average Directional Index (ADX) is low at 16.54, suggesting a lack of clear trend direction, which can signal potential reversals. The MACD is negative, reflecting bearish momentum, while the Stochastic RSI also indicates that the stock is in a lower range, which may suggest a potential for upward movement if it can break past resistance levels.

Support levels are identified near 313.23, based on classic pivot points, while resistance is apparent around the 334.12 mark. The stock's movement near its exponential moving averages suggests a cautious approach, particularly as it hovers below the 10 and 20-day EMAs. Given the current volatility reflected in the Average True Range (ATR) of around 12.50, traders should watch for sudden price moves.

In summary, JSW Infrastructure Limited exhibits mixed signals. While recent price action hints at potential rebounds, the low ADX indicates uncertainty in market direction. Traders should look for confirmation of a breakout above resistance levels or a drop below support to guide their next steps. Maintaining a close watch on volume and trend indicators will be crucial for capitalizing on price movements in the near term.