📈 JK Paper Ltd. – Bullish RSI Divergence & Breakout Above Major Trendline

🔹 Price Action JK Paper Ltd. has delivered a sharp upmove of +17.38% this week, closing at ₹409.30. The stock has broken above its major blue trendline with strong bullish candles, supported by heavy volumes. This signals a potential reversal from the recent downtrend. 🔹 Technical Signals Bullish RSI Divergence: While price made lower lows earlier, RSI showed higher lows, indicating underlying strength and a probable reversal. Volume Confirmation: The breakout is accompanied by above-average volumes, adding conviction to the move. Major Trendline Support (Blue): Price has respected the long-term rising blue trendline, confirming its role as a strong base. Resistance Retest: The breakout zone around ₹361–365 now acts as immediate support. 🔹 Levels to Watch Immediate Support: ₹361 Next Support: ₹322 Upside Resistance: ₹453, followed by ₹520 If the stock sustains above ₹361, momentum could carry it toward ₹453 and eventually ₹520. 📊 Summary JK Paper Ltd. is showing signs of a bullish reversal, supported by RSI divergence, breakout volumes, and a strong long-term trendline base. Sustaining above ₹361 will keep the bias positive, with scope for a move toward ₹453 → ₹520 in the coming weeks. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.