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JTEKT INDIA LTDJTEKT INDIA LTDJTEKT INDIA LTD

JTEKT INDIA LTD

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JTEKTINDIA trade ideas

JTEKT 1DBOS (Break of Structure): A break of structure occurred in the uptrend, signalling a shift in market momentum around late April to early May. This indicates that the previous resistance was broken, which led to a strong bullish rally. CHOCH (Change of Character): After the bullish move, a change of character is marked, indicating a reversal from the uptrend into a downtrend in mid-July. This suggests a potential shift in the market's direction from bullish to bearish. Fibonacci Levels: Fibonacci retracement levels are drawn, with the 0.618 level providing a significant resistance around ₹185, and the 0.786 level offering support near ₹165. The price is currently consolidating between these key levels. Order Block (OB): There is an order block marked around the ₹165 zone. This is a significant area where institutional buying or selling occurred, and it may act as a strong support for a future price bounce. Current Price Action: The price is hovering near the 0.786 Fibonacci retracement level and the order block area, indicating a consolidation phase. The stock seems to be coiling, preparing for a potential breakout either upwards or downwards. Summary: The stock recently experienced a change of character and has retraced down to the 0.786 Fibonacci level near an order block. This area could serve as strong support, setting up for a potential upward bounce if the market regains bullish momentum. The resistance at ₹185 (0.618 Fibonacci level) will be key to watch for further confirmation of a reversal or continuation of the current trend.
NSE:JTEKTINDIA
by vinitsugandh
JTEKTINDIA - RARE CHART WITH 6 CONTRACTIONS & BREAKOUTHi All, This idea is about JTEKT India Ltd Fundamentals Market Cap - 5661 Cr Stock PE - 55 ROE - 13.6% ROCE - 17.3% Promoter Holding - 75% MktCap/Sales - 2.5 Quick Ratio - 1.12 D/E - 0.14 Technicals Rarely it is observed that a stock goes through 6 contractions before going for a breakout from a rising wedge channel. This is a weekly chart & only meant for long term investors. Each contraction is marked by how much percentage the stock corrected before making a top again. Over 5 years the stock has made multiple High tops and high lows and now attempting to move out of the channel This chart can be used for education purpose also to understand the dynamics of supply and demand Happy Trading, Thanks, Stock-n-Shine
NSE:JTEKTINDIALong
by Stock-n-Shine
1
This Stock Has Broke A Long-Term Resistance with EMA Support✅The stock has been trading within a rising channel, encountering a 4.6-year-old strong resistance. Recently, the price has broken above this resistance, showing a potential bullish continuation. ✅ Immediate support around ₹180, aligning with the lower trendline. Stronger support near the 50 EMA at ₹154 providing a robust base for potential upward movement. ✅ Noticeable increase in volume with the breakout above the strong resistance, signaling strong buying interest and supporting the bullish outlook. ✅ RSI is currently at 67 trending upwards and indicating increasing bullish momentum without being overbought. The MACD histogram shows rising bullish momentum, with the MACD line close to crossing above the signal line, suggesting a buy signal.
NSE:JTEKTINDIALong
by Marketik
2
This Stock Has Broken & Sustained Above 20 Years Old Resistance📊 JTEKTINDIA ✅ The stock has broken a 20-year-old strong resistance (upper trendline) with high volume. ✅ Whenever it used to touch the upper trendline, it would fall by 20-30%, but this year (2024), in the last 6 months, it has tested the resistance 3 times and didn't fall, showing strength in the stock. It already broke the trend on June 14th, but I was waiting for confirmation to see if it was a trap or real. It has managed to sustain above the resistance and is now ready for new higher highs. 🚨 Fundamentally, the company is also good. I have checked the balance sheet and other aspects, and all looks good. 👉 If the stock shows momentum near our target, we will hold it positionally for 400+ targets.
NSE:JTEKTINDIALong
by Marketik
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