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jbm auto share price: Big Movers on D-Street: What should investors do with JBM Auto, Angel One and Federal Bank?


Equity markets closed last week at record levels on positive global cues. The 30-share BSE Sensex jumped 502 points to settle at its new all-time closing high of 66,060, while the broader Nifty went up by 150 points to end at a new record peak of 19,564.

Stocks that were in focus include names like JBM Auto, which rose 11.13%, Angel One, which lost 2.14% and Federal Bank, whose shares gained 2% on Friday.

Here’s what Pravesh Gour, Senior Technical Analyst at Swastika Investmart, recommends investors should do with these stocks when the market resumes trading today:

JBM Auto – Buy on Dips
The counter is in a classical upward directional pattern, and in the last trading session, it witnessed a breakout of a flag formation but did not sustain at the higher levels.

The structure of the counter is good, but it has already given a massive rally from the low of Rs 361 to the high of Rs 1539. Its present risk-reward ratio is not in favour of long-term investors. So wait for any dip before taking a position.

MACD (moving average convergence divergence) is supporting the current strength, whereas the momentum indicator RSI (relative strength index) is also positively poised.

On the upside, Rs 1550 is an immediate hurdle; above this, we can expect a move towards Rs 1600+. On the downside, Rs 1100–1200 is a strong demand zone during any correction.Angel One: Buy
The counter has witnessed a breakout from a triangle formation on the longer timeframe and started a new leg of the rally towards Rs 1800.

The overall structure of the counter looks lucrative, as it is trading above all its important moving averages.

However, the counter is facing resistance at around Rs 1800 levels; if it breaks these levels, we can expect a target of Rs 2000+ in the short to long term. On the downside, Rs 1550 is an important support during any correction.

Federal Bank: Buy for long term
On the weekly chart, the stock has given a breakout from inverse head and shoulder formation with a surge in volume. The stock is facing trend-line resistance at Rs 137 level.

Above this, we are expecting a long run-up towards the Rs 150 level. On the downside, Rs 120 is major support in any correction. Momentum indicators are positively poised to support the current strength.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)


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