JTL Industries Ltd – Support Bounce with Momentum Still Building

📈 Technical Overview (Weekly) Price has shown a sharp bounce from the ₹55–60 support zone, backed by strong volume, suggesting active participation at lower levels. The broader trend is still corrective, with price trading below the falling resistance line. 📊 Momentum Check RSI has formed a bullish divergence, indicating waning downside momentum. However, RSI is still below the 80 zone; sustained strength above this level is needed for continuation rather than just a pullback. ⚠️ What to Watch Immediate hurdle near ₹72–75; a decisive move above this zone with RSI expansion can improve trend clarity. Failure to hold above support may keep the stock range-bound and volatile. 🧠 Summary The bounce looks constructive, but confirmation will depend on RSI strength and follow-through above resistance. Until then, expect volatility with a positive bias. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)