JK Tyre – Technical Outlook

JK Tyre is showing early signs of stabilization after witnessing a sharp correction from the ₹600 zone. On the daily chart, the stock has formed a base around ₹370–390 and has recently managed to move above its 20 EMA, indicating improving short-term momentum. However, the overall medium-term trend remains cautious as the price is still trading below the 50 DMA, 100 DMA, and 200 DMA, which are clustered in the ₹420–438 zone. This region is expected to act as a strong supply area and will be crucial for determining the next directional move. A sustained breakout above ₹420–422 with strong volumes could confirm a trend reversal and attract fresh buying interest. Such a move may open the path towards ₹435 initially, followed by ₹455 and ₹475 in the coming weeks. On the downside, immediate support is placed near ₹395, while stronger support exists around ₹375. A breach below ₹375 could weaken the technical structure and lead to renewed selling pressure. Overall, the stock appears to be in a recovery phase rather than a confirmed uptrend. Traders may consider initiating fresh long positions only after a decisive breakout above ₹420–422, while existing investors can continue to hold with a strict stop-loss at ₹395. Until the stock clears the long-term moving average resistance zone, it is advisable to remain selective and avoid aggressive buying at current levels. Buy Above: ₹420–422 Targets: ₹435 | ₹455 | ₹475 Stop Loss: ₹395 $JKTYRE