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The stock of Jyoti CNC Automation could be gearing up for a fresh rally. Immediate supports are at ₹1,120 and ₹1,060. An immediate resistance at ₹1,185 which is likely to be broken in a day or two. That break will confirm an inverted head and shoulder pattern on the chart. It will then open the doors for Jyoti CNC Automation share price to go up to ₹1,300-1,325. From a medium-term perspective, it will also have the potential to take the stock up to ₹1,500-1,550 in the coming months.
Video Credit: Gurumurthy K
Traders can go long now at ₹1,166. Accumulate on dips at ₹1,140. Keep the stop-loss at ₹1,070 initially. Trail the stop-loss up to ₹1,190 as soon as the stock goes up to ₹1,220. Move the stop-loss further up to ₹1,260 when the price touches ₹1,290. Exit the long positions at ₹1,320.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Published on May 6, 2025
This article first appeared on The Hindu Business Line
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