Jai Corp Ltd: Strong Breakout with Bullish Momentum
Weekly Chart Overview:
EMA 21 and EMA 50: The stock is currently trading above the 21-week EMA (₹365) and 50-week EMA (₹332), indicating that the medium-term momentum is positive. This bullish alignment of EMAs suggests that the stock is gaining strength, and buyers are in control.
EMA 200: It is currently positioned around ₹284, showing long-term support.
Volume Surge: The recent spike in price is accompanied by a significant volume increase, reflecting strong buying interest. This volume breakout confirms the upward price momentum.
Key Levels to Watch:
Support:
₹365 (21-week EMA)
₹351 (50-day EMA)
Resistance:
₹399 (recent swing high)
Conclusion:
The combination of price moving above key EMA levels and strong volume makes Jai Corp Ltd a strong candidate for further gains, provided it sustains above ₹365. If the stock manages to break and hold above ₹399, it could trigger a further rally. However, watch for any pullback to the ₹365 level, as this would serve as critical support.
Suggested Entry: Consider entering at or above ₹365 with a target range of ₹400 - ₹420 and a stop loss at ₹350.
This stock seems poised for a continued uptrend, with all eyes on the volume and price action near resistance levels.
EMA 21 and EMA 50: The stock is currently trading above the 21-week EMA (₹365) and 50-week EMA (₹332), indicating that the medium-term momentum is positive. This bullish alignment of EMAs suggests that the stock is gaining strength, and buyers are in control.
EMA 200: It is currently positioned around ₹284, showing long-term support.
Volume Surge: The recent spike in price is accompanied by a significant volume increase, reflecting strong buying interest. This volume breakout confirms the upward price momentum.
Key Levels to Watch:
Support:
₹365 (21-week EMA)
₹351 (50-day EMA)
Resistance:
₹399 (recent swing high)
Conclusion:
The combination of price moving above key EMA levels and strong volume makes Jai Corp Ltd a strong candidate for further gains, provided it sustains above ₹365. If the stock manages to break and hold above ₹399, it could trigger a further rally. However, watch for any pullback to the ₹365 level, as this would serve as critical support.
Suggested Entry: Consider entering at or above ₹365 with a target range of ₹400 - ₹420 and a stop loss at ₹350.
This stock seems poised for a continued uptrend, with all eyes on the volume and price action near resistance levels.
Passionate Hustler. Lifetime learner. I dive into everything with full energy and never get bored—always exploring, always evolving. Join me on my journey as I hustle through life, learn new things, and share insights that inspire!
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.