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JIO FIN SERVICES LTD

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JIOFIN trade ideas

Jio Financial Services Ltd (JIOFIN) - Technical Analysis Jio Financial Services Ltd (JIOFIN) - Descending Triangle Breakout Imminent?Stock Overview:Jio Financial Services Ltd has been consolidating in a descending triangle formation, a commonly recognized bearish continuation pattern. However, a breakout to either side may present significant trading opportunities. Let’s break down the technical aspects and potential trade setups.Technical Analysis:1. Daily Timeframe (1D Chart):Pattern: The stock has formed a descending triangle, where the horizontal support is between ₹330 - ₹335 and the descending trendline is making lower highs.Support Level: ₹330 - ₹335 has been tested multiple times, indicating a strong support zone.Resistance Level: ₹345 - ₹350 acts as the next resistance zone, with previous price rejection in this range.RSI Indicator: The RSI is currently around 50, which indicates neutral momentum. However, a break above 60 could signal the start of a bullish move.Volume: There has been declining volume during consolidation, which suggests that a big move might be coming soon.2. Hourly Timeframe (1H Chart):Support Zone: ₹330 remains crucial as seen in the daily chart, while ₹340 seems to be a key resistance in the short term.Breakout Potential: A clean breakout above ₹340 - ₹345 could lead to a strong upward move. The price has already broken out of the descending trendline on the hourly chart, indicating potential bullish momentum.Volume Spike: Watch for a significant volume increase to confirm the breakout, which is necessary to ensure strength in the price movement.Trade Setup:Entry Strategy:Aggressive Entry: Enter above ₹340 if the stock holds this level for 1-2 candles on the hourly chart with strong volume confirmation.Conservative Entry: Wait for a breakout and close above ₹345 on the daily chart to enter a more confirmed uptrend.Stop Loss:Below ₹330: Place a stop loss around ₹325 to account for false breakouts or volatility spikes. This is below the key support level of ₹330, which should hold for the bullish scenario to remain intact.Target Levels:Target 1: ₹350 - Immediate resistance based on the breakout.Target 2: ₹360 - This aligns with previous high and resistance levels, offering a realistic next target.Target 3: ₹375 - For those looking to ride the momentum further, this would be the next major resistance point.Risk Management:Position Sizing: Risk only 1-2% of your capital on this trade. To calculate position size, use this simple formula:Risk Amount = (Entry Price - Stop Loss) / Total Capital * 100For example, if you are entering at ₹345 and your stop loss is at ₹330, you're risking ₹15 per share. If you want to risk 2% of your capital, say ₹10,000, then your position size should be:Position Size = Risk Capital / ₹15 = 10,000 / 15 = 666 sharesAlways adjust position size based on your risk tolerance.Risk-Reward Ratio:This setup offers a risk-reward ratio of approximately 1:2 or 1:3, which is ideal for a trade like this:Risk: ₹15 (from ₹345 entry to ₹330 stop loss).Reward: ₹25 (Target 1: ₹350 to ₹375).Conclusion:This potential trade on Jio Financial Services Ltd is promising based on the descending triangle breakout possibility. Key levels to watch are ₹330 as support and ₹345 as resistance. A break above ₹345 with volume could open the door for significant gains with a potential target of ₹375. However, proper risk management is crucial, and setting a stop loss below ₹330 is necessary to avoid large losses.
NSE:JIOFIN
by TradeAXN
Jio Financial - A break-out for 600 targetJio Financial Services Ltd (JFSL), initially incorporated as Reliance Strategic Investments Private Limited in 1999, is now a registered NBFC-ND-SI with the RBI. It serves as the holding company for its financial services subsidiaries, including Jio Finance Ltd., Jio Insurance Broking Ltd., Jio Payments Bank Ltd., and Jio Payment Solutions Ltd., along with a proposed AMC business in partnership with BlackRock. As of H1FY24, JFSL boasts a market cap of ₹2,18,932 Cr and has a stock P/E of 138. Despite being almost debt-free and showing strong operational margins, the company does not currently pay dividends. CMP at 344 Target 612-625+ SL below 308
BSE:JIOFINLong
by profitoptionnew
1
Jio Financial ServicesStock turned into bullish trend after the recent correction Support levels are seen at 346 and one can entry in the range of 353 to 355 and wait for the immediate targets of 375.85 and mid term target of 395 & 423 Jio FIn is going to benefit from the huge customer data base that they already have and retail lending is going to increase in the near future all over india. Adding this stock in every dip is long term investment strategy. for swing traders entry - 353-355 Add more quantity above 346.5 Stop Loss - 336.7 (follow strictly) Target - 375 & 395 I am not a SEBI Registered financial adviser.. i am writing these reviews on stock prices for educational purpose for some one who is interested in TREND ANALYSIS Kindly take advice from your personal financial adviser. I request your comments on the above levels so that i can also improve my analysis
NSE:JIOFINLong
by haresh2408
20
Buy JIO Fin with the target of 391*Stock Update - JIO Fin* Jio Financial Services is seeking the approval of its shareholders for related party deals worth Rs36000cr ($4.3 billion) with group firm Reliance Industries’ retail unit. Jio Financial is seeking approval of its holders for transactions during financial years 2024-25 and 2025-26 Jio Financial’s unit Jio Leasing Services plans foray into business of operating lease via a device-as-a-service Buy Jio Fin cmp 365.30 with the Target of 391
NSE:JIOFINLong
by Maideen