J M FINANCIAL
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.