Technical view: J Kumar Infraprojects Ltd

Technical view: J Kumar Infraprojects Ltd

by 5paisa Research Team Last Updated: Dec 11, 2022 - 12:41 am 29.5k Views
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The stock of JKIL has surged over 10% during Wednesday’s trading session.

J Kumar Infraprojects Limited is a construction company, engaged in the construction of roads, bridges, flyovers, and other infra projects. It is a smallcap company with a market capitalization of about Rs 1800 crores.

The stock of JKIL has surged by over 10% during Wednesday’s trading session. With this, it has hit a fresh 52-week high of Rs 251.35 with heavier volumes. On the technical chart, it has given a breakout from its 40-week cup-like pattern and currently trades near its day’s high. Since the past five weeks, the stock has soared higher and gained over 40%. Moreover, above-average volumes have been recorded which demonstrates strong buying interest among the market participants.

The strong price structure is supported by bullish technical parameters. The MACD line trades above its signal line and zero line, indicating strong momentum. The ADX (43.85) is rising steadily and points northward. Moreover, the +DMI is well above the -DMI which is a bullish sign. The 14-period daily RSI (82.93) indicates extreme strength in the stock. Interestingly, the OBV indicates strong strength from volumes perspective. The Elder Impulse Systems maintains its buy signal and the KST and TSI indicators have a bullish view on the stock. It trades about 18% above its 20-DMA and 32% above its 200-DMA. Meanwhile, all the key moving averages indicate bullishness in the stock.

On YTD basis, the stock has generated about 48% returns for its investors. The stock is trending strong, as evident from the fact that it has jumped over 13% WTD basis. Thus, the stock possesses strong momentum and shows no sign of halting. According to the pattern, the stock has the potential to test the level of Rs 300 and beyond in times to come. With its strong bullish momentum, traders can expect good profits in a short period. Moreover, risk-takers have a good opportunity to make quick bucks.

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