JSW Infrastructure Limited (JSWINFRA) Stock - Complete Technical Analysis - Nov 08, 2024

JSW Infrastructure Stock Analysis: Key Support, Resistance & Trend Outlook Partha Kuchana - Finan

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 (JSWINFRA) has recently experienced a significant price drop, now trading at 304.50, 15.64% below its 52-week high of 360.95. This drop raises concerns of a short-term bearish trend, but it could present an opportunity for potential reversal. The stock's RSI is at a neutral level, while the ADX indicates a weak trend, suggesting that the stock might be in a consolidation phase.

From a technical standpoint, the stock is currently facing resistance at around 350 and could struggle to surpass this level without strong momentum. On the downside, it has solid support near 276 and 238, which traders should monitor closely. MACD being negative suggests bearish sentiment in the short term, though the stock could bounce if these support levels hold. The Stochastic RSI suggests that the stock might be nearing overbought conditions, making it crucial to watch for signs of reversal. Given the relatively high ATR, price volatility is expected, and traders should consider waiting for a clearer breakout or breakdown to make informed decisions.