J Kumar Infraprojects registers a trendline breakout! What are its target levels?

J Kumar Infraprojects registers a trendline breakout! What are its target levels?

by 5paisa Research Team Last Updated: Dec 14, 2022 - 09:49 pm 23k Views

JKIL has soared over 4% on July 05.

Shares of J Kumar Infraprojects Ltd soared over 4% during the early hours of Tuesday’s trading session. With this, it has registered a falling trendline breakout with above-average volumes. The volume tends to be greater than the 10-day and 30-day average volume, indicating larger participation in the stock. Also, the stock trades near its 52-week high level of Rs 307.50 and it is in a long-term uptrend.

As per the technical parameters, the 14-period daily RSI (64.12) is in the bullish territory and indicates strong strength. The MACD has given a bullish crossover above the zero line, indicating a stronger upmove. The OBV is at its peak, showing strong volumetric strength. The +DMI is well above the -DMI and ADX (33.81) indicate a strong uptrend. The Elder Impulse systems demonstrate a buy signal, while KST and TSI are already in the bullish zone. It is currently about 20% above its 50-DMA and 57% above its 200-DMA.

On a YTD basis, the stock has generated about 86% wealth for its shareholders and has also outperformed most of its peers. Looking at the price pattern, we can expect a good upmove of about 8-10% in the short to medium term. It can test the level of Rs 330 in the coming days as per the technical analysis.

However, the 20-DMA level of Rs 282 has to be watched keenly as any fall below this level can show some weakness. Also, the 20-DMA has acted as strong support in recent times. Moreover, the stock provides good swing trading opportunities and traders can expect good gains from this stock.

J Kumar Infraprojects Ltd is a smallcap construction company. It works in the design and construction of roads, bridges, flyovers, and other infra projects. With a market capitalisation of about Rs 2200 crore, it is one of the strong growing companies in its sector.

Share Market Today


How do you rate this article?

or

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
Plaza Wires IPO Anchor Allocation at 28.06%

About the Plaza Wires IPO Plaza Wir

  • Sep 29, 2023
Master Components IPO Opens Flat, Closes Flat

Flat listing for Master Components IPO, closes flat too

  • Sep 29, 2023
Emami Acquires 26% Stake in Axiom Ayurveda, Enters Health Juice Segment

On 29-sep-2023, Emami Ltd., a prominent Indian FMCG company, made an exciting foray into the health juice category by acquiring a 26% stake in Axiom Ayurveda Pvt Ltd, the firm behind the popular AloFrut brand of beverages.

  • Sep 29, 2023