Technical Analysis of Jio Fin Services LTD

Telegram Group Join Now

Stock name: Jio Fin Services LTD

Chart Pattern: Ascending Triangle Pattern

Time Frame: Daily


Analyzing the JIO Fin Services chart, we see an ascending triangle pattern following its listing on 21st August 2023. The stock experienced a significant drop from the opening price of ₹262 to an all-time low of ₹202.80 before rebounding to a new high of ₹266.95 on 4th September 2023. After this peak, a downtrend persisted until 23rd October 2023. The formation of higher lows from this point, alongside consistent resistance around ₹229.35 to ₹232.95, crafted the ascending triangle.

The breakout above this resistance with a robust bullish candle and the subsequent successful retest of the resistance zone, now acting as support, suggests a potential bullish continuation. This chart pattern, coupled with the stock’s recent history, indicates that buyers are gaining strength and the stock may be poised for further upward movement.

Technical Analysis of JIO Fin Services LTD

Chart Link: –

Consider monitoring this stock to observe subsequent price movements.

Disclaimer: The provided analysis is for educational purposes only and should not be taken as investment advice. It’s recommended to consult with a financial advisor before making any financial decisions.

News Related to JIO FIN Services LTD

Jio Financial Services Seeks SEBI’s Approval To Launch Mutual Fund Business

  • Jio Financial Services (JFS), the fintech arm of Reliance Industries, has applied for a mutual fund licence from SEBI.
  • JFS announced a joint venture with BlackRock, the world’s largest asset manager, in July 2023 to enter the Indian mutual fund industry.
  • The joint venture, called Jio BlackRock, aims to disrupt the Indian asset management space with digital and tech-enabled solutions.
  • Jio BlackRock has opted for a fresh licence rather than acquiring an existing mutual fund house, which could have been faster and easier.
  • Jio BlackRock plans to invest $150 million each in the venture and leverage Jio’s massive customer base and data analytics capabilities.

An aspiring Finance student became obsessed with the stock market and decided to help beginners learn about it more easily. Created a website that would provide strategies and technical knowledge on how to get started in the stock market.

Leave a Comment