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JTEKTINDIA

Detailed Analysis of JTEKT India LtdNSE:JTEKTINDIA , a fundamentally strong company, has recently shown some impressive movements in the stock market. The stock formed an all-time high on January 3, 2024, marking a significant milestone in its trading history. Resistance Level Breakout If we delve into the weekly chart, it becomes evident that there was a formidable resistance level around the 167 mark. This level was tested twice previously. The first instance was in December 2022 when the stock formed an all-time high. However, the price got rejected from this level, indicating the strength of the resistance. The same level was tested again in August 2023, but the price was once again unable to break through, further solidifying the importance of this resistance level. Finally, on January 2, 2024, the stock managed to break this level with impressive volume, indicating strong buying interest and potentially marking the start of a new uptrend. Promoter Group Acquisition Adding to the bullish sentiment, it was identified that on January 3, 2024, the promoter group of JTEKT Column Systems Corporation purchased shares in large quantities. This acquisition by the promoters shows their interest and confidence in the company’s prospects, which is a positive sign for potential investors. Retesting Breakout Levels As of today, the stock has retraced to the breakout levels with low volumes, providing an opportunity for investors and traders to plan their entry. This retest of the breakout level is a common phenomenon in the stock market and is often seen as a confirmation of the breakout. Conclusion Given the breakout from a significant resistance level with high volume, coupled with the promoter group’s acquisition of shares, JTEKT India Ltd presents a compelling case for potential investment / Trading. However, as with all investments, it’s crucial to conduct thorough research and consider your financial goals and risk tolerance before making a decision. Thank you for your support! Your likes & comments. If you want to give any feedback then you can give in the comment section Trade with confidence, and let your profits run like a river. Embrace the journey! Disclaimer This analysis is for educational purposes only. We aren't SEBI registered analysts. Trade responsibly.
NSE:JTEKTINDIALong
by AfnanTAjuddin
1
JTEKTINDIA | Good for Long | Weekly BO NSE:JTEKTINDIA Cmp : 127.95 Entry : Cmp or near 127.95 Stop Loss: According to one's Risk Reward ratio #Study, Learn & Earn. If you love this post please like and comment your thoughts below. That will be a great motivation for me to post similar ideas ahead. Disclaimer: All the information posting on this page are for the educational purpose only, we are not SEBI registered financial advisor. We wont recommend any BUY/SELL of stocks. Contact your financial advisor before taking any action
NSE:JTEKTINDIALong
by Art_of_charting_Knowledge
JTEKTINDIA - Ichimoku Bullish Breakout Stock Name - JTEKT India Ltd Ichimoku Cloud Setup : 1). Today's close is above the Conversion Line 2). Future Kumo is Turning Bullish 3). Chikou span is slanting upwards All these parameters are showing bullishness at Current Market Price and more bullishness AFTER crossing 108 #This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market. # Cloud Trading # Ichimoku Cloud # Ichimoku Followers I hope you all like my analysis. Please do share your thoughts into comment section. Please give a like, it motivates me to do analysis.
NSE:JTEKTINDIALong
by nikunjbhadja