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Price and trend forecast of JIOFIN for Tomorrow, Weekly, Monthly

JIO Financial Services Ltd

Symbol: NSE:JIOFIN

ISIN: INE758E01017

361.85

As on 2024-04-16

202.80 (52W Low) 378.85 (52W High)

JIOFIN's Today's Performance

JIO Financial Services Ltd started the day by opening at 364.90 today 2024-04-16. Its shares reached a high of 371.95 and dipped to a low of 360.10 in intraday. When the markets closed, JIOFIN’s stock price settled at ₹361.85 per share. Also check out its key support and resistance levels.

JIOFIN Buy/Sell Targets

Tomorrow, buy JIOFIN when its price reaches ₹ 361.85 with a stop-loss order at ₹ 356.11. You can set the target price as ₹ 367.59 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of JIOFIN for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for JIOFIN

Resistance Levels Value in ₹
Tomorrow Resistance 1 369
Tomorrow Resistance 2 376
Tomorrow Resistance 3 381

Important Supports for JIOFIN

Support Levels Value in ₹
Tomorrow Support 1 357
Tomorrow Support 2 353
Tomorrow Support 3 345
Based on where the stock opens tomorrow, if JIOFIN opens on a positive note, our first target will be ₹369. If Target 1 is achieved, we will aim for Target 2 which is ₹376.

But if JIOFIN falls below the average value of ₹364.63, you can enter a sell side position with target number 1 - ₹357 and second target - ₹353 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of JIOFIN

Looking at JIOFIN, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, JIOFIN has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for JIOFIN is strong bullish.

Tomorrow's Volume based share price Forecast for JIOFIN

JIOFIN's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a strong bullish trend. Volume trend strength over the last month compared to the last week is 99%.

Reversal detection for JIOFIN

Predicted trend chart of JIOFIN tomorrow for price forecast
JIOFIN may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹356 in morning tomorrow
Target 1 tomorrow369
Target 2 tomorrow372
Target 3 tomorrow376
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with JIOFIN's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if JIOFIN opens on a positive note, our first target will be ₹369.17. If Target 1 is achieved, we will aim for Target 2 which is ₹376.48.

But if JIOFIN falls below the average value of ₹364.63, you can enter a sell side position with target number 1 - ₹357.32 and second target - ₹352.78

JIOFIN's Weekly Targets
1st Up Target 372.20
2nd Up Target 382.55
1st Down Target 351.25
2nd Down Target 340.65

As the week for JIOFIN ended on bearish sentiments, we can expect further continuation of this sentiment. JIOFIN's initial target will be 372.20 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 351.25 in the upcoming week.

Weekly OHLC Values
Open 362.00
High 371.95
Low 351.00
Close 361.85

Week for JIOFIN started with an open price of 362.00, and the close was at 361.85. JIOFIN reached the highest of 371.95 and dipped lowest up to 351.00 last week. This indicates a bearish sentiment for the week.

JIOFIN full month swing targets
Monthly Up Target 1 393.15
Monthly Up Target 2 403.50
Monthly Down Target 1 330.30
Monthly Down Target 2 298.75

Targets of ₹393.15 can be expected to be reached in the coming month. Once JIOFIN achieved this target, we can aim for the next upside target of ₹403.50.

JIOFIN if fails to hold upside, down targets of ₹330.30 and ₹298.75 can be achieved by end of this month.

For complete three weeks if JIOFIN is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as JIOFIN

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

JIOFIN is expected to reach the target of 369.17 in tomorrow's trading session.

After achieving the initial target in JIOFIN, we will aim for higher targets of 376.48 tomorrow.

However, if JIOFIN starts to trade below ₹364.63, then we will shift our focus to the sell side and aim for down targets of 357.32 and 352.78.