JM Financial Monthly Chart Analysis- 27Nov2019

JM Financial is a leading non-banking financial company (NBFC) of India. The monthly chart of JM Financial looks bearish as of today, 27 Nov 2019, because it completely lost all the gains on this month. The stock started the Nov 2019 month at 80 and went up till 100, and is now back at 83, which indicates significant selling from the 100 level.

Below 80, the stock can go down till 60, though there are multiple supports between 60-72 level. On the other hand, if the stock starts moving above 89, then it will become very bullish, and then stock can test 100, and also cross it to reach 120-125 levels.

Investors can buy some shares at 80-81, and wait for either 72 or 89 to buy more. All prices below 80 are attractive for 1-2 years timeframe. Above 100, the stock will be in strong uptrend, and one can buy in large quantity for target 120, which will be 20% upside. From 80, the target of 120 will give 50% gain. For the year 2020, 120 is the first target, and 150 is the second target. So for the year 2020, JM Financial stock has range of 60 on downside to 150 on upside.