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
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