Jio Financial Services Ltd - Breakout Opportunity
Date: 20-Jun-2024
Rating: Buy - Positional Trade
LTP: Rs. 365.55
Targets: (1) Rs. 394 --> (2) Rs. 448
SL: Rs. 335 on daily close basis
Technical View:
•
JIOFIN is in it's primary uptrend and was recently going through it's secondary downtrend.
• After touching the high of 394.70 on 23-Apr-2024, it has retraced 22% to 307.30 level.
• On 20-Jun-2024,JIOFIN has broke out from its secondary down trend with higher than average volume.
•JIOFIN is trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is trading at 56.16 and MACD is trading at 0.98.
• Looking strong to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Rating: Buy - Positional Trade
LTP: Rs. 365.55
Targets: (1) Rs. 394 --> (2) Rs. 448
SL: Rs. 335 on daily close basis
Technical View:
•
JIOFIN is in it's primary uptrend and was recently going through it's secondary downtrend.• After touching the high of 394.70 on 23-Apr-2024, it has retraced 22% to 307.30 level.
• On 20-Jun-2024,
JIOFIN has broke out from its secondary down trend with higher than average volume.•
JIOFIN is trading above 20 DMA, 50 DMA and 21 DEMA.• RSI is trading at 56.16 and MACD is trading at 0.98.
• Looking strong to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
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