Just Dial Limited (JUSTDIAL) Stock - Complete Technical Analysis - Oct 18, 2024

Just Dial Technical Analysis: Is a Price Reversal Coming Stock Market 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. Just Dial Limited is currently trading at 1199.60, reflecting a position 14.01% below its recent 52-week high of 1395.00, noted on October 11, 2024, and 72.36% above its 52-week low of 696.00 reached on November 17, 2023. The stock has shown considerable volatility, particularly highlighted by a notable drop from an open of 1245.55 to a close of 1194.40 in the previous session, which indicates selling pressure. The Doji pattern observed today indicates indecision in the market, suggesting the potential for further volatility.

Looking at the technical indicators, the MACD level reflects some bullish momentum, while the RSI remains around neutral, indicating a balance of buying and selling pressures. The ADX shows a low reading, pointing to a weak trend; traders should remain cautious regarding possible reversals. The Stochastic %K is also leaning towards bearish territory, reinforcing the sentiment of market indecision.

Key support appears to be around the 1198.2 level, while resistance is expected near 1256.4. The recent appearance of a Bullish Harami pattern could suggest the potential for a bounce back, but confirmation through increased trading volume is crucial. Gaps in price have been noted, hinting at rapid changes in market sentiment that could present both risks and opportunities. Overall, traders should keep a close eye on the market's direction and act accordingly, as the current volatility indicates that significant price swings are possible in the upcoming days.