‹ All Posts
Unite Technologies Financial

28th Apr · SEBI-Registered Analyst

Technical Analysis JBM Auto Limited.

The stock

JBMA
has shown a strong recovery after a significant downtrend. The stock bottomed out near the 460-480 zone around March/April and has since bounced back to the current trading price of approximately 631. It is currently in a consolidation phase taking a breather after its recent upward move. Immediate Resistance the stock is currently facing a hurdle in the 640-650 zone. It has tested this area recently but hasn't given a strong closing above it. Major Resistance if a successful breakout happens above 650 with good volume the next major target or resistance level sits higher up around 720-730. Immediate Support on the downside the 580-600 level acts as a strong short-term support where buyers might step back in. Major support the ultimate base is at the recent swing low of 480. For current holders it is best to maintain your positions while keeping a strict stop-loss near the 580-600 support zone to protect your capital. Fresh buyers should avoid entering right now and wait patiently for a clear daily closing above the strong 650 resistance level. Once the stock successfully breaks out above 650 with good volume, it will confirm fresh upward momentum. This breakout would create a safer entry point for a short-term swing trade aiming for a target around the 720-730 levels. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.

#TimeToExit#TechnicalViews#EquityResearch#WatchOutFor
785 likes·51 comments