JM Financial Limited Stock Forecast
JM Financial Limited stock upgraded to Strong Buy Candidate.
(Updated on Jun 28, 2024)
The JM Financial Limited stock price gained 2.41% on the last trading day (Friday, 28th Jun 2024), rising from ₹85.50 to ₹87.56. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.30% from a day low at ₹85.08 to a day high of ₹89.59. The price has been going up and down for this period, and there has been a 3.78% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately ₹632.13 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹89.53 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect JM Financial Limited stock with a 90% probability to be traded between ₹76.08 and ₹90.50 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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JMFINANCIL.NS Signals & Forecast
Mostly positive signals in the chart today. The JM Financial Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹84.83 and ₹81.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 16.75%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Tuesday, April 23, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, April 23, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for JM Financial Limited stock
JM Financial Limited finds support from accumulated volume at ₹84.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹4.51 between high and low, or 5.30%. For the last week, the stock has had daily average volatility of 3.41%.
Our recommended stop-loss: ₹84.32 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (JMFINANCIL.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect JM Financial Limited to open at ₹87.41, and during the day (based on 14 day Average True Range), to move between ₹84.26 and ₹90.86, which gives a possible trading interval of +/-₹3.30 (+/-3.76%) up or down from last closing price. If JM Financial Limited takes out the full calculated possible swing range there will be an estimated 7.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹88.90 (1.53%) than the support at ₹84.37 (3.64%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is JM Financial Limited stock A Buy?
JM Financial Limited holds several positive signals and is considered to be a good choice at current levels. We expect the JM Financial Limited stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.890 Strong Buy Candidate Upgraded
Predicted Opening Price for JM Financial Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹87.41 ( 0.171%) | ₹87.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JMFINANCIL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 91.92 | 4.98% |
| R2 | 90.20 | 3.01% |
| R1 | 89.13 | 1.80% |
| Price | 87.56 | |
| S1 | 85.69 | -2.14% |
| S2 | 84.62 | -3.35% |
| S3 | 82.90 | -5.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 88.90 | 1.53% |
| Price | 87.56 | |
| S1 | 84.37 | -3.64% |
| S2 | 83.29 | -4.88% |
| S3 | 81.90 | -6.46% |
JMFINANCIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Sep 05, 2024 | ₹2.00 | 2.28% |
| 2 | May 19, 2023 | May 19, 2023 | May 19, 2023 | ₹0.90 | 1.32% |
| 3 | Nov 24, 2022 | Nov 24, 2022 | Nov 24, 2022 | ₹0.90 | 1.27% |
| 4 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | ₹1.15 | 1.86% |
| 5 | Feb 17, 2022 | Feb 17, 2022 | Feb 17, 2022 | ₹0.500 | 0.730% |
FAQ
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