Jaiprakash Associates Limited (JPASSOCIAT) Stock - Complete Technical Analysis - Nov 14, 2024

Jaiprakash Associates (JPASSOCIAT) Stock Analysis: Key Support & Resistance Levels You Need to Kno

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. Jaiprakash Associates (JPASSOCIAT) is currently facing a downtrend with a price of 6.60, a significant 69.43% drop from its 52-week high of 27.15. The Relative Strength Index (RSI) is below 40, showing the stock is oversold, suggesting that a reversal could be possible if buying interest picks up. However, the negative MACD indicates that the bearish trend is still in play. Key support levels are at 6.08 and 6.00, while resistance lies around 7.00 and 7.40. If the stock breaks below 6.00, further downside to 5.80 could be possible, while a move above 7.40 could signal a shift toward recovery.

The Average Directional Index (ADX) at 20.28 indicates a weak trend, which may suggest sideways price action in the near term. The commodity channel index (CCI) is negative, confirming that the stock is in oversold conditions. Traders should be prepared for volatility, with a sharp reversal possible if the stock breaks through resistance levels or further declines below support. Monitoring the momentum and volume will provide key insights into the strength of any potential price action. A careful strategy is needed, as the stock is in a precarious position.