Jindal Saw Limited (JINDALSAW) Stock - Complete Technical Analysis - Nov 11, 2024

Jindal Saw Stock Analysis: Key Support & Resistance Levels for Traders JINDALSAW Technical Overvi

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. Jindal Saw Limited (JINDALSAW) is currently facing downward pressure with a price of 304.40, significantly lower than its 52-week high. The technical indicators reflect weakness in the stock, as the RSI is nearing oversold territory and the MACD remains negative, indicating that the bearish trend may continue in the short term.

The stock is trading below key moving averages, which reinforces the bearish sentiment. Immediate resistance is expected at the 10-day EMA of 315.99, followed by the 20-day and 50-day EMAs at 324.59 and 332.58, respectively. These resistance levels need to be breached for a potential reversal to the upside.

Support is found at the 200-day EMA (291.35) and the classic pivot support at 278.75. A breakdown below these levels could signal further downside, and the stock might test its 52-week low of 189.98.

Volatility is high, and while the stock is showing oversold conditions, there is still room for further declines before any significant reversal. Traders should monitor these levels closely before taking positions and remain cautious until clearer signs of trend reversal emerge.