Trade Idea of The Day - Jio Financial Services Ltd Target Rs. 8 - Religare Broking Ltd
Jio Financial Services Ltd
BUY 25 AUG 260 CALL SELL 25 AUG 270 CALL Entry Range 3.5 – 4.5 Target 8 Stop Loss 2
Rationale
* JIOFIN continued its bullish reversal on the weekly chart, supported by a decisive breakout above the recent consolidation zone and the 50-WEMA. The stock also maintained its position above the rising trendline, indicating strengthening buying momentum and improving medium-term market structure.
* Momentum indicators remained supportive, with the RSI climbing above the 55 mark, reflecting improving bullish strength. Additionally, the weekly MACD sustained a positive crossover with an expanding histogram, suggesting that upside momentum is gradually accelerating and the ongoing recovery trend remains firmly intact.
* The sustained price action above the 20-WEMA and 50-WEMAs confirms a positive trend reversal. As long as the stock holds above the 255-250 support zone, every corrective decline may continue to attract buying interest, keeping the broader bullish outlook unchanged.
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SEBI Registration number is INZ00017433
