Just Dial Limited (JUSTDIAL) Stock - Complete Technical Analysis - Oct 25, 2024

Expert Technical Analysis of Just Dial Limited (JUSTDIAL) - Key Levels 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. Just Dial Limited (JUSTDIAL) - Detailed Technical Analysis

Currently trading at 1,077, Just Dial Limited's stock is facing considerable pressure. With a stock price 22.74% below its recent 52-week high of 1,395 and 54.86% above its low of 696, the price trend shows a bearish sentiment that has characterized recent sessions. The stock opened at 1,133 on October 25, surged to 1,142, but eventually closed at 1,077, highlighting a volatile trading environment.

Price Trends and Observations: The price action indicates sudden drops and sharp reversals. The last five days of trading exhibited lower closing prices, suggesting a lack of bullish momentum. The significant distance between current prices and recent highs signals a cautious outlook.

Support and Resistance Levels: Traders should note the critical support level around 1,067, derived from the recent low. Conversely, resistance is positioned at 1,142, aligning with the most recent trading session's high. Given that the stock trades below its pivot point, there's a pressing need to monitor these levels closely.

Technical Indicators:

The MACD remains in negative territory, emphasizing the bearish momentum in the stock.

RSI values nearing oversold conditions might signal a potential price bounce, while the ADX confirms a weak trend, indicating indecisiveness among traders.

Stochastic indicators are notably low, suggesting a potential upward reversal in the near future.

Volatility: High volatility is evident from the average true range, implying significant fluctuations. The Awesome Oscillator also aligns with bearish sentiment, reinforcing the need for traders to adopt a cautious approach in their strategies.

In conclusion, Just Dial Limited is at a crossroads, facing immediate resistance at 1,142 and support at 1,067. Monitoring these levels, alongside key indicators like RSI and MACD, will be crucial for traders looking to navigate this stock's current volatility effectively.