Jio Financial shares are trading around the 350 level on Wednesday and have remained red since the opening bell. It remained trading at the 325 level for over a month and broke out of the consolidation phase to reach 350. The stock is facing consolidation again at the 350 level and has the potential for an upward swing.
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Taking an entry position into Jio Financial shares could potentially turn profitable in the short term within the next 12 months. The upside target stands at three different ranges, as the stock needs to break through all the mentioned resistance levels. The stock must cross the 370 and 380 levels and find a breakthrough to 400, breaking all resistance barriers.
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Here’s When Jio Financial Shares Could Hit 400
Stock market expert Kush Ghodasara told Business Today TV investors can accumulate Jio Financial shares around 340. He forecasted that after the consolidation phase at the 350 level ends, its price could propel to new weekly highs. He explained that the consolidation phase is two months long, and the stock has met the barriers.
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“The stock looked good on charts (Jio Financial shares). It has been consolidating in a strict range for the last two months. So, one can buy around Rs 340 levels for potential upside targets of Rs 370-400,” market expert Kush Ghodasara told Business Today TV. Jio Financial shares had reached an all-time high of 394 this year before sliding in the charts from May 2024.
Ghodasara forecasts that Jio Financial shares could reach 400 in the short term. That’s anywhere between today and the next 12 months. That’s an uptick of approximately 14% from its current price of Rs 350. Therefore, an investment of Rs 100,000 could turn into Rs 114,000 if the price prediction is accurate.