Long-term investors can buy into this counter with a stop below Rs 305 on a closing basis.
Moneycontrol News
@moneycontrolcom
Mazhar Mohammad
Chartviewindia.in
Interestingly, JBM Auto started to rally last year from the lows of Rs 259 in July 2017 and in the next couple of months it registered a major top around Rs 629 in September 2017.
Since then it has given up all the gains and appears to be testing its critical averages on the long-term charts.
Hence, long-term investors can buy into this counter with a stop below Rs 305 on a closing basis. In case if a fresh leg of rally unfolds from current levels after consolidation then a target around Rs 409 can be expected over a period of time.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.First Published on Jul 18, 2018 02:50 pm