Technical Analysis of JTL INDUSTRIES LTD (JTLIND)
Overview of the Stock:-The chart presents the historical price movement of JTL INDUSTRIES LTD on the National Stock Exchange (NSE) on an hourly (1H) timeframe. Key indicators include:
Price: Current price is 211.00, down -1.40 (-0.66%) from the previous close.
High and Low: Today's high is 212.49, and the low is 210.84.
EMA (200, high): A 200-period Exponential Moving Average based on highs, currently at 221.27.
RSI (14, high): Relative Strength Index based on 14-period highs, currently at 27.42.
Price Action Analysis:- The stock has been in a consolidation phase since April 2024, trading within a range of 201 to 234.30. The current price is below the 200-period EMA, indicating potential bearish momentum. The RSI value of 27.42 suggests the stock is in oversold territory, which could indicate a potential reversal or bounce back.
Key Levels:
Resistance: The immediate resistance level is around 234.30, which is the upper boundary of the consolidation zone.
Support: The immediate support level is around 201, which is the lower boundary of the consolidation zone.
Potential Outlook:
Short Term: There's a possibility of a short-term bounce due to the oversold RSI. However, the price needs to break above the consolidation zone to confirm a bullish reversal.
Long Term: The overall trend remains neutral until the stock breaks out of the consolidation zone. A break above 234.30 would signal a bullish breakout, while a break below 201 would indicate a bearish breakdown.
Disclaimer: This analysis is based solely on the provided chart and does not constitute financial advice. It's crucial to conduct thorough research and consider multiple factors before making investment decisions as I am not SEBI registered person to suggest any stock and this is my personal opinion on the basis of technical analysis
Thanks for your support as always
Overview of the Stock:-The chart presents the historical price movement of JTL INDUSTRIES LTD on the National Stock Exchange (NSE) on an hourly (1H) timeframe. Key indicators include:
Price: Current price is 211.00, down -1.40 (-0.66%) from the previous close.
High and Low: Today's high is 212.49, and the low is 210.84.
EMA (200, high): A 200-period Exponential Moving Average based on highs, currently at 221.27.
RSI (14, high): Relative Strength Index based on 14-period highs, currently at 27.42.
Price Action Analysis:- The stock has been in a consolidation phase since April 2024, trading within a range of 201 to 234.30. The current price is below the 200-period EMA, indicating potential bearish momentum. The RSI value of 27.42 suggests the stock is in oversold territory, which could indicate a potential reversal or bounce back.
Key Levels:
Resistance: The immediate resistance level is around 234.30, which is the upper boundary of the consolidation zone.
Support: The immediate support level is around 201, which is the lower boundary of the consolidation zone.
Potential Outlook:
Short Term: There's a possibility of a short-term bounce due to the oversold RSI. However, the price needs to break above the consolidation zone to confirm a bullish reversal.
Long Term: The overall trend remains neutral until the stock breaks out of the consolidation zone. A break above 234.30 would signal a bullish breakout, while a break below 201 would indicate a bearish breakdown.
Disclaimer: This analysis is based solely on the provided chart and does not constitute financial advice. It's crucial to conduct thorough research and consider multiple factors before making investment decisions as I am not SEBI registered person to suggest any stock and this is my personal opinion on the basis of technical analysis
Thanks for your support as always
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.