Jio Financial Breakout Watch –Wedge Setup Points to ₹356+ Target

Jio Financial Services is currently presenting an exciting opportunity on the charts, with a wedge breakout setup forming after months of consolidation. A wedge is a bullish pattern that typically signals a reversal or continuation of an uptrend, especially when supported by rising volumes and strong market sentiment.

The price has been compressed within a narrowing wedge since August, bouncing between a down-sloping resistance zone and a strong ascending support zone. Each dip has been met with higher lows, indicating strong accumulation near the base of the wedge. The recent price action around ₹300 shows a strong bullish candle attempting to break out of the wedge resistance — a sign of growing buyer interest.

What strengthens this setup is the support confluence with 200 EMA and the lower wedge support. The 200 EMA near ₹299 has particularly held firm, and the breakout is emerging just above it — a healthy technical signal.

If the breakout sustains, we can expect a multi-leg bullish move with:

Target 1: ₹315+
Target 2: ₹340+
Final Target Projection: ₹356+

These targets are calculated based on the height of the wedge, which is then projected upwards from the breakout point. The price structure suggests a potential for an impulsive rally once the wedge breakout is fully confirmed on daily closing.

On the downside, a strict stop loss below ₹292 has been defined — any close below this zone would invalidate the bullish pattern and suggest a deeper retracement. This stop aligns just beneath the key support zone, keeping the risk-reward ratio favorable for positional traders.

In conclusion, Jio Financial is at a critical technical juncture. A confirmed breakout above the wedge could unlock substantial upside toward ₹356+, while maintaining disciplined risk management below ₹292 remains essential. Watch the breakout candle and follow-up volume closely — it could be the start of a new trend leg.