Jubilant Ingrevia Limited (JUBLINGREA) Stock - Complete Technical Analysis - Oct 18, 2024

Jubilant Ingrevia Technical Analysis: Key Levels & Trends to Watch

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. Welcome to the technical analysis of Jubilant Ingrevia Limited, trading at 754. The stock recently hit a 52-week high of 837 and is currently about 9.95% below this level, showing a bullish potential. Conversely, it's 85.58% above its 52-week low of 406, indicating significant upward movement in the last year.

Looking at the recent price action, we see that the stock experienced some volatility, especially noted from October 14 to 18. The inside candle pattern formed on October 7 suggests indecision in the market, with price movement between 798.05 and 716.45 over ten days. This could indicate a potential breakout or reversal in the coming sessions.

The MACD is showing bullish momentum, but the RSI is hovering around 52, suggesting the stock is neither overbought nor oversold, allowing room for movement in either direction. The Stochastic and CCI indicate a slightly bearish sentiment, which could lead to a pullback before a potential rally.

Support levels to watch include 749.05 and 735.78, while resistance levels are found around 776.73 and 800. The Average Directional Index at 23.77 suggests a moderate trend, so traders should be cautious of sudden price drops or surges, as indicated by the recent trading patterns.

With the stock trading near the 10 EMA at 752.37, it may find support here. If it breaks below this, the next level of support is around 720.1, based on the 50 SMA. Keep an eye on the volatility, as the ATR indicates potential swings in price. For those looking to invest, consider waiting for a confirmation of the breakout above 800 or a rebound at 749 before making a move.