Can you again win with JIOFIN ?After the breakout from the descending channel, retest seems to be complete.
This company needs no introduction. Right !!!
Jiofinancial
Jio Financial Services Ltd - Breakout OpportunityDate : 2-Sep-2024
LTP : Rs. 344.90
Resistance Level/s: (R1) Rs. 368 --> (R2) Rs. 394 --> (R3) Rs. 447
Support Level/s : (S1) Rs. 310 --> (S2) Rs. 295.70
Technical View:
• NSE:JIOFIN is in strong uptrend since Nov-2023. It was recently going through it's secondary downtrend within primary uptrend.
• After touching the high of 394.70 on 23-Apr-2024, it has retraced 21% to 310 level.
• On 2-Sep-2024, NSE:JIOFIN has broke out from it's secondary downtrend with higher than average volume.
• NSE:JIOFIN has managed to close above 20 DMA and 50 DMA on 2-Sep-2024.
• RSI has entered buy zone and trading at 61.42.
• Both RSI and MACD are showing positive divergence on daily chart.
• Looking good to start a new swing from here.
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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. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
Jio Financial Services Ltd - Breakout OpportunityDate : 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:
• NSE: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, NSE:JIOFIN has broke out from its secondary down trend with higher than average volume.
• NSE: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.
Jio Financial Services Ltd. - Short Term TradeDate : 18-Mar-2024
Rating : Buy - Short Term Trade
LTP : Rs. 352.55
Targets: Rs. 409
SL : Rs. 335
Technical View:
• NSE:JIOFIN is in its primary uptrend since Oct-2023.
• After touching a life time high of 374 on 12-Mar-2024, it has retraced up to 15% to 318 level.
• NSE:JIOFIN has broke out from its secondary down trend on 18-Mar-2024.
• RSI is at 65.22 and MACD is at 18.80. Both are indicating good momentum and strength to move the price up.
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.
Jio Financial Services Ltd.Note : Publishing this 2nd idea on NSE:JIOFIN in continuation to my 1st one (link given below), to provide analysis with updated chart and targets.
Suggested on : 23-Nov-2023
Rating : Buy (Mid Term as well as Long Term Opportunity)
LTP on 23-Nov-2023 : Rs. 221.90
Targets Achieved : (1) Rs. 233 --> (2) Rs. 266 --> (3) 288 --> (4) 295 --> (5) 318
Next Targets: (6) Rs. 348 --> (7) Rs. 373
Technical View :
NSE:JIOFIN is in primary uptrend since end of Oct-2023. Since then, it has seen multiple ups and downs keeping the primary uptrend intact. Recently, it touched the life time high of 348 on 26-Feb-2024. Post that it went in to minor retracement and again started showing strength in last couple of days. MACD and RSI are bullish. After every minor retracement, RSI crossover to RSI-based MA has given a bullish outcome, which has happened again on 2-Mar-2024. Also, it has given break out from its minor retracement on 1-Mar-2024. Looking good for further rally from here onwards.
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.
