📊 J&K Bank Ltd. – Key Breakout Test in Progress

🔍 Quick Technical Snapshot: Strong Uptrend: The stock rallied sharply from 2022 to mid-2024 inside an ascending channel with strong volume support. Correction Phase: A well-formed falling channel developed from mid-2024, with consistent lower highs and lower lows. Current Action: Price recently breached the upper boundary of the falling channel but faced immediate rejection. Currently retesting the breakout zone. 🔑 Key Levels: Support: ₹95.32 – strong base, tested multiple times. Resistance: ₹116.64 – prior swing high and key supply zone. 📊 Volume Insights: Volume supported the uptrend. Volume declined during the correction phase. No decisive volume surge on the breakout attempt → suggests caution. ⚠️ Price Signals: Recent bearish candle with rejection wick indicates sellers are active near resistance. Price compression near the base shows possible accumulation, but breakout strength is not yet confirmed. 👉 Watch ₹116.64 carefully. A sustained breakout with volume can trigger the next bullish leg. Failure here could pull price back towards ₹95.32. 📢 Disclaimer: This is for informational purposes only. Not a buy/sell recommendation. Positions may or may not be held. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (INH000020332). 📄 Investments are subject to market risks. Read all documents carefully.