Jaiprakash Associates Limited (JPASSOCIAT) Stock - Complete Technical Analysis - Sep 10, 2024

JPASSOCIAT Stock Analysis Bearish Trend & Key Support Levels NSE Stock Review

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 Limited (JPASSOCIAT) is currently trading at 8.3, which is significantly below its 52-week high of 27.15. The stock has been on a downward trend, with key technical indicators reflecting a bearish sentiment. The RSI suggests the stock is nearing oversold territory, signaling potential weakness, though it hasn't reached extreme oversold levels. The MACD shows a bearish crossover, confirming a negative momentum, while the ADX indicates a weak trend, suggesting indecisiveness in market direction.

The stock's moving averages are all above the current price, which suggests that it is under significant selling pressure. Particularly, the short-term and long-term EMAs and SMAs are sloping downward, reinforcing the bearish outlook. The Awesome Oscillator and Commodity Channel Index also confirm negative momentum, showing no signs of reversal yet. With the Williams Percent Range at -100, the stock is deeply oversold, though it may require further confirmation before a buying opportunity arises.

In terms of support, 7.65 seems to be a strong level that the stock might test soon. If this support level breaks, the next critical support is around 7.0. On the resistance side, 9.6 and 10.9 are the immediate hurdles the stock must overcome to signal any signs of recovery. Volatility is high, as indicated by the ATR, suggesting that traders should be cautious of rapid price movements. The momentum remains weak, and investors should watch for stronger bullish signals before considering any long positions. Short-term traders may look for a breakout above resistance levels to confirm an upward trend reversal.