Jsw Infrastructure Limited Stock Forecast
Jsw Infrastructure Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Jsw Infrastructure Limited stock price gained 2.31% on the last trading day (Friday, 21st Jun 2024), rising from ₹303.00 to ₹310.00. During the last trading day the stock fluctuated 5.54% from a day low at ₹301.20 to a day high of ₹317.90. The price has risen in 7 of the last 10 days and is up by 8.54% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 799 thousand more shares were traded than the day before. In total, 890 thousand shares were bought and sold for approximately ₹275.87 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹309.82, a level that may pose a second chance to hit a runner. According to fan-theory ₹340.46 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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JSWINFRA.BO Signals & Forecast
The Jsw Infrastructure Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹299.31 and ₹276.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 16.45%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Jsw Infrastructure Limited stock
Jsw Infrastructure Limited finds support from accumulated volume at ₹300.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹16.70 between high and low, or 5.54%. For the last week, the stock has had daily average volatility of 3.78%.
Our recommended stop-loss: ₹298.47 (-3.72%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (JSWINFRA.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Jsw Infrastructure Limited to open at ₹309.70, and during the day (based on 14 day Average True Range), to move between ₹298.15 and ₹321.85, which gives a possible trading interval of +/-₹11.85 (+/-3.82%) up or down from last closing price. If Jsw Infrastructure Limited takes out the full calculated possible swing range there will be an estimated 7.64% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹300.45, some ₹9.55 (3.08%) from the current price of ₹310.00, our system finds the risk reward attractive.
Is Jsw Infrastructure Limited stock A Buy?
Jsw Infrastructure Limited holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.869 Strong Buy Candidate Upgraded
Predicted Opening Price for Jsw Infrastructure Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹309.70 ( 0.0968%) | ₹310.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JSWINFRA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 326.40 | 5.29% |
| R2 | 320.02 | 3.23% |
| R1 | 316.08 | 1.96% |
| Price | 310.00 | |
| S1 | 303.32 | -2.15% |
| S2 | 299.38 | -3.43% |
| S3 | 293.00 | -5.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 310.00 | |
| S1 | 300.45 | -3.08% |
| S2 | 271.75 | -12.34% |
| S3 | 266.20 | -14.13% |
FAQ
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