Jai Corp Ltd: Strong Breakout with Bullish MomentumWeekly Chart Overview:
EMA 21 and EMA 50: The stock is currently trading above the 21-week EMA (₹365) and 50-week EMA (₹332), indicating that the medium-term momentum is positive. This bullish alignment of EMAs suggests that the stock is gaining strength, and buyers are in control.
EMA 200: It is currently positioned around ₹284, showing long-term support.
Volume Surge: The recent spike in price is accompanied by a significant volume increase, reflecting strong buying interest. This volume breakout confirms the upward price momentum.
Key Levels to Watch:
Support:
₹365 (21-week EMA)
₹351 (50-day EMA)
Resistance:
₹399 (recent swing high)
Conclusion:
The combination of price moving above key EMA levels and strong volume makes Jai Corp Ltd a strong candidate for further gains, provided it sustains above ₹365. If the stock manages to break and hold above ₹399, it could trigger a further rally. However, watch for any pullback to the ₹365 level, as this would serve as critical support.
Suggested Entry: Consider entering at or above ₹365 with a target range of ₹400 - ₹420 and a stop loss at ₹350.
This stock seems poised for a continued uptrend, with all eyes on the volume and price action near resistance levels.