J M FI­NAN­CIAL

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I wish to buy J M Fi­nan­cial. Can I buy now?

BUY J M FI­NAN­CIAL ABOVE 131

- Hiren Pa­tel

J M Fi­nan­cial is cur­rently trad­ing at Rs 119.20. Its 52-week high/low stand at Rs 131.20/Rs 52.70 made on May 26, 2017 and Novem­ber 21, 2016, re­spec­tively. The stock has taken wit­nessed zig-zag move­ment de­pict­ing chan­nel like pat­tern with sup­port and re­sis­tance of Rs 113 and Rs 131, re­spec­tively, af­ter hit­ting its 52-week high. The stock is giv­ing dras­tic vol­ume changes. Its 14-pe­riod RSI is quot­ing at 53, which shows lack of mo­men­tum for now. Hence, the stock may move on ei­ther side and give sharp move­ment on a break­down or a break­out. Hence, we sug­gest you to en­ter the stock only af­ter it hits above Rs 131, which is its ma­jor re­sis­tance.

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