⚙️ JTEKT India Ltd. – Strong Volume Breakout, Now Facing Resistance

🔹 Price Action Closed at ₹181.94 (-6.43%), retracing after a sharp rally. Stock surged from ₹130 → ₹190 zone within weeks, backed by huge volumes (highlighted). Now facing major resistance at ₹191 (previous supply & trendline confluence). 🔹 Technical Observations Bullish Momentum: Breakout from falling trendline + strong buying volume. RSI at 70: In overbought territory, showing bearish RSI divergence (price made higher highs, RSI lagged). Price rejected from long-term resistance zone → profit booking visible. 🔹 Key Levels Support: ₹154 → ₹130. Resistance: ₹191 → ₹200 (strong supply zone). Sustaining above ₹200 will open path towards ₹230–₹250. 🔹 Indicators RSI ~70: Overbought, caution needed. Volume spike: Confirms genuine breakout, but sharp move may lead to near-term consolidation. Momentum: Still strong, but rejection at ₹190–₹200 zone signals short-term pressure. 🔹 Strength & Risk ✅ Strong breakout on heavy volume. ✅ Recovered above 200-week moving averages. ❌ Immediate resistance at ₹191–₹200 zone. ❌ Bearish RSI divergence may lead to consolidation. 🔹 Outlook Short Term: Likely sideways between ₹154–₹191. Medium Term: Bullish only if closes above ₹200; targets ₹230–₹250. Strategy: Partial profit booking near resistance; re-entry possible if it consolidates above ₹160 with SL at ₹130. 📢 Disclaimer: Educational analysis only, not financial advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332).