Jayaswal Neco Industries Limited (JAYNECOIND) Stock - Complete Technical Analysis - Sep 10, 2024

Jayaswal Neco Industries (JAYNECOIND) Stock Analysis Key Support, Resistance & Technical Indicato

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. Jayaswal Neco Industries Limited (JAYNECOIND) Technical Analysis

The stock of Jayaswal Neco Industries Limited is currently trading at 50.3, which is 23.06% below its 52-week high of 65.4 and 57.50% above its 52-week low of 31.95.

Support and Resistance Levels:

Immediate Support: Around 45.26, as indicated by the Camarilla S1 pivot point.

Key Support: Around 42.29, aligning with the Classic S1 pivot point.

Immediate Resistance: Close to 52.84, which is the Classic R1 pivot point.

Key Resistance: Around 59.44, corresponding to the Classic R2 pivot point.

Technical Indicators:

MACD: The MACD line is currently above the signal line, suggesting bullish momentum.

RSI: The RSI is in the neutral zone, indicating a balance between buying and selling pressure.

ADX: The ADX value shows a moderate trend strength, reflecting a stable market condition.

Stochastic Oscillator: The Stochastic %K is above the 50 mark, implying a positive momentum.

Awesome Oscillator: This indicator is positive, reinforcing the current uptrend.

Williams %R: The Williams %R is in the oversold region, suggesting potential for upward correction.

CCI: The Commodity Channel Index is significantly above 100, highlighting strong buying pressure.

Bull Bear Power: The positive Bull Bear Power indicates that bulls are in control.

Moving Averages:

Short-Term MA: The stock is trading above the 10-day EMA and SMA, suggesting a short-term bullish trend.

Long-Term MA: The stock is above the 200-day EMA, indicating a long-term uptrend.

Chart Patterns:

The stock is showing a bullish pattern as it trades above most key moving averages and recent support levels.

Volatility and Risk:

ATR: The Average True Range is relatively high, indicating that the stock is experiencing significant volatility. Traders should be cautious of potential price swings.

Overall, JAYNECOIND appears to be in a bullish phase with strong support and resistance levels. Investors should watch for a breakout above resistance or a reversal at support levels for potential trading opportunities.