Jamna Auto Industries Limited (JAMNAAUTO) Stock - Complete Technical Analysis - Sep 10, 2024

Jamna Auto Industries Stock Analysis: Support & Resistance Levels Technical Indicators Explained

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.

Technical Analysis of Jamna Auto Industries Limited (JAMNAAUTO)

Currently trading at 126.11, Jamna Auto Industries is showing mixed technical signals. The stock is 15.74% below its 52-week high of 149.66, achieved on July 31, 2024, and 23.21% above its 52-week low of 102.35, recorded on October 26, 2023.

Support and Resistance Levels:

Immediate Support: 117.02 (Classic Pivot S1)

Key Support: 108.33 (Classic Pivot S2)

Immediate Resistance: 141.4 (Classic Pivot R1)

Key Resistance: 157.09 (Classic Pivot R2)

Technical Indicators:

MACD: Currently in a negative zone, indicating potential bearish momentum.

RSI: At 48.9, suggests the stock is in a neutral zone, showing neither overbought nor oversold conditions.

ADX: The low level of 11.54 indicates a weak trend.

Stochastic %K: At 28.66, the stock is in the oversold region.

Stochastic RSI: At 24.76, confirms oversold conditions.

Commodity Channel Index (CCI): At -66.4, indicates the stock is in an oversold condition.

Awesome Oscillator: Negative at -5.53, suggesting bearish momentum.

Williams Percent Range (WPR): At -38.92, showing potential oversold conditions.

Ultimate Oscillator: At 46.56, indicating a neutral trend.

Moving Averages:

Short-Term MA: The stock is trading below its 10-day and 20-day Simple Moving Averages (SMA) and Exponential Moving Averages (EMA), suggesting short-term bearish pressure.

Long-Term MA: The stock is also below its 50-day and 100-day SMAs and EMAs, indicating overall bearish sentiment.

Chart Patterns:

The current price is near the lower end of the range, suggesting possible support around the immediate levels. Resistance is found near recent highs and moving averages.

Observations:

ATR (Average True Range): The recent ATR values show moderate volatility, which could imply varying price swings.

Hull Moving Average (HMA): At 122.12, indicating potential short-term support.

Overall, Jamna Auto Industries Limited is experiencing a bearish trend with significant resistance above current levels and immediate support zones. Traders should watch for potential price reversals or breakouts from these key levels to make informed trading decisions.