JP Power – Bottoming Attempt with Volume Spike (Daily)

is showing early signs of a potential trend reversal after a prolonged downtrend. The stock has been consolidating in the ₹13–15 zone and has now seen a sharp volume-backed breakout attempt, indicating fresh interest. Technical Structure The stock appears to be forming a base-building structure after sustained weakness. Key observations: • Strong volume spike on recent up move, indicating accumulation • Price moving above short-term EMA, signalling momentum shift • Formation of higher lows near ₹13–14 zone • Current move suggests a possible breakout from consolidation range • Stochastic RSI sharply rising, indicating strong momentum pickup Key Levels to Watch Immediate resistance: ₹17–18 zone • Breakout above ₹18 → Target 1: ₹20–21 Target 2: ₹23–25 Support levels: • Immediate: ₹15–15.5 • Major: ₹13–14 A breakdown below ₹13 could invalidate the reversal setup.