Movers & Shakers: Stocks that will see action this week
Here is what the charts say about the shares of JBM Auto, NESCO and Siemens Energy India
This week's stock market focus shifts to JBM Auto, NESCO, and Siemens Energy India. JBM Auto's stock price has been on a downward trend since June, dipping to ₹465 before stabilizing at ₹497.50. The stock faces a significant barrier at ₹515, which, if breached, could lead to further declines to ₹425. A successful breakout above ₹515 may signal a potential uptrend, with the stock aiming for ₹1,320 and eventually reaching ₹1,425.
On the other hand, a breakdown below the ₹400-425 support band could see JBM Auto's price drop to ₹425.
NESCO, on the other hand, has been performing steadily since the beginning of the year. The stock has formed a strong base at ₹1,000 and is currently testing the crucial barrier at ₹1,320. A successful breakout above ₹1,320 could propel the stock to ₹1,425 and beyond. However, a drop below the ₹1,000 support level could lead to a decline to ₹880.
Siemens Energy India's stock has been in a downtrend since June, but recent gains have raised hopes for a bullish reversal. The stock has recently tested a resistance level at ₹3,200 and could extend its uptrend to ₹3,650. A temporary consolidation might occur at this level before the stock appreciates further to ₹3,900. If the price falls below ₹2,850, Siemens Energy India could experience a fresh drop, possibly reaching ₹2,500.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
