JK Tyre & Industries Ltd – Daily Technical View

📊 JK Tyre & Industries Ltd – Daily Technical View The stock has moved up sharply and is currently trading inside a rising wedge structure, which generally indicates loss of momentum near the top. Recent price action shows rejection from the Top-2 resistance zone, hinting at short-term consolidation or mild correction. 🔍 Technical Observations: Price is hovering near the upper Bollinger Band, indicating stretched levels Trading close to the 20-DMA, showing indecision after the rally RSI is in the 55–60 range, still positive but cooling off Volumes have moderated after the recent up-move 🔑 Key Levels: Immediate Support: ₹500 – ₹490 Major Support: ₹470 Resistance Zone: ₹530 – ₹540 Upside Targets (on breakout): ₹560 / ₹580 📈 Outlook: As long as the stock holds above ₹490, the structure remains constructive. A sustained breakout above ₹540 with volume can trigger the next leg of upside. Failure to hold ₹490 may lead to deeper consolidation towards ₹470. ⚠️ Educational view only. Not a buy/sell recommendation. — AALGO BREATHS