Jyoti CNC Automation Limited (JYOTICNC) Stock - Complete Technical Analysis - Sep 05, 2024

Jyoti CNC Stock Analysis: Key Support, Resistance

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. Jyoti CNC Automation Limited (JYOTICNC) is currently trading at 1,163, which is approximately 19.79% below its 52-week high of 1,449.95 and 216.02% above its 52-week low of 368. The stocks performance indicates a strong upward trend from its low point, but recent fluctuations suggest potential volatility.

Support levels for JYOTICNC are around 1,089, based on the Classic Pivot S1 and the Fibonacci S1, while resistance is observed near 1,349, highlighted by the Classic Pivot R1 and Woodie Pivot R1. The stock recently formed an inside candle pattern with a high of 1,200 and a low of 1,142, showing consolidation within this range over the past two days.

Technical indicators paint a mixed picture. The MACD suggests a bullish signal, while the RSI indicates a neutral stance, hovering around the middle range. The ADX value, though low, hints at a potential for volatility. The stock is trading above its shorter-term EMAs but below its longer-term SMAs, suggesting a potential resistance at higher levels. The Awesome Oscillator and Commodity Channel Index show mixed momentum, indicating indecisive market conditions.

Overall, traders should watch for a break above the 1,200 level for a potential uptrend or a drop below 1,142 to confirm a possible downtrend. Monitoring these levels and indicators will be crucial for navigating JYOTICNCs future movements.