Kalyan Jewellers India Limited (KALYANKJIL) Stock - Complete Technical Analysis - Nov 28, 2024

Kalyan Jewellers Stock Technical Analysis Key Levels, Trend & Volatility Insights KALYANKJIL

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. Kalyan Jewellers India Limited (KALYANKJIL) has demonstrated a solid upward trend in the past year, trading 132.7% above its 52-week low of 304.1, but currently priced at 707.65, it is 10% below its 52-week high of 786.25. This shows that while there is strong bullish sentiment, the stock is facing resistance around the 710-715 levels.

In terms of technical indicators, the MACD is showing positive momentum, suggesting that the stock is still in an upward trend, though the RSI is neutral, meaning the stock isn't overbought or oversold at the moment. The Stochastic RSI indicates the possibility of the stock entering overbought territory, which could signal a potential pullback in the short term.

Looking at support levels, the stock is holding steady above the 693-695 range, which could provide a good entry point for traders if the price dips back to this zone. If the stock breaks below this level, traders should keep an eye on the next support zone around 680-685. On the other hand, a break above the 710-715 resistance zone could lead to a continuation of the bullish trend, with potential to retest the 786-level high.

The Average True Range (ATR) suggests elevated volatility, so traders should remain cautious of price swings. Short-term fluctuations and reversals are expected, so keeping an eye on momentum indicators like the MACD and stochastic RSI is key. For long-term investors, the stock shows strong growth potential, but caution should be exercised in the short term due to the resistance around the 710 level.