JSW Infrastructure Limited (JSWINFRA) Stock - Complete Technical Analysis - Oct 23, 2024

JSW Infrastructure Technical Analysis: Bearish Trends and Key Levels Revealed

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's current technical outlook reveals a stock trading at 291.35, notably down from recent highs. The "Three Black Crows" pattern suggests a continuation of bearish momentum. Over the last five trading days, we've observed a significant downward trend, highlighting the volatility in the stock's movement.

Key support is anticipated around the 284 to 295 range, where recent lows have been established. A breach below this support could trigger further declines. In contrast, resistance remains firm at the 322 mark, necessitating careful monitoring.

Indicators like the ADX at 16.85 indicate a weak trend environment, while the RSI at 31.29 suggests oversold conditions. Despite this, the MACD remains negative, reflecting ongoing bearish sentiment. The stock's distance from its exponential moving averages reinforces the downtrend, with immediate focus on short-term volatility as shown by the ATR of approximately 12.50.

Traders should approach with caution; should the stock attempt a recovery towards 312, it could present short-term trading opportunities. Conversely, a dip below 284 may necessitate protective measures for bearish positions.