JTEKT India Technical AnalysisHere's a comprehensive TradingView report for JTEKT India Limited:
Current Price:160.90
📊 TECHNICAL SETUP OVERVIEW
JTEKT India is displaying a compelling technical structure within a well-defined ascending channel pattern that has been in play since the 2020 lows. The stock is currently consolidating after a significant rally and appears to be setting up for the next leg of movement.
KEY TECHNICAL OBSERVATIONS
1. Channel Pattern Analysis:
- Long-term Ascending Channel: The stock has been respecting a parallel channel since 2020, with clear support and resistance boundaries
- Current Position: Trading in the middle zone of the channel, suggesting room for movement in either direction
- Channel Support: Lower trendline around 120-130 zone
- Channel Resistance: Upper trendline projecting towards 220-240 zone
2. Moving Average Structure:
All major moving averages are sloping upward, confirming a strong bullish trend across multiple timeframes.
3. Price Action Patterns:
- Clear higher highs and higher lows formation since 2020
- Recent consolidation after touching 220+ levels suggests healthy profit-booking
- Volume expansion during rallies indicates strong buying interest
- Formation of a potential inverse head and shoulders pattern on monthly timeframe
4. Support & Resistance Levels:
Immediate Support Zones:
- S1: 148-150 (8/13 EMA cluster)
- S2: 134-135 (50 EMA + channel support)
- S3: 120-122 (psychological level + lower channel boundary)
Resistance/Target Zones:
- Target 1:188.50 (Previous swing high)
- Target 2: 209.71 (Major resistance + psychological 200 level)
- Target 3: 255.40 (Channel top + Fibonacci extension)
PROJECTION & TREND ANALYSIS
Bullish Scenario (Higher Probability):
If the stock holds above 148-150 support zone:
1. First target: 188.50 (18% upside potential)
2. Breakout above 190 could trigger momentum towards 209.71
3. Ultimate target within channel: 255.40 (58% upside from current levels)
Bearish Scenario (Risk Assessment):
Break below 134 (50 EMA) could lead to:
- Retest of 120-122 zone (channel support)
- Deeper correction to 110-115 if channel breaks
- This would invalidate the current bullish setup
CONCLUSION
JTEKT India Limited presents a well-defined bullish channel with strong moving average support. The technical structure suggests the stock is consolidating before the next leg up, with multiple targets identified.
Accumulate on dips toward 148-150, add on strength above 170, with ultimate targets of 188, 210, and ₹255.
Disclaimer: This is a technical analysis for educational purposes only. Not financial advice. Technical analysis should be combined with fundamental research, and proper risk management should always be employed. Past performance does not guarantee future results.
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