Jio Financial Services shares fell to a low of 234 last month but quickly rebounded in price in February. JIOFIN surged 8% in the last seven days and is attracting heavy bullish sentiments in the indices. Investors who brought the dip last month made decent profits in just a week in the Mukesh Ambani-led firm. On Wednesday alone, it spiked 3% in the day’s trade and is up close to 1% on Thursday’s opening bell.

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Analyst Gives Jio Financial Share ‘Buy Call’: Target 305 With 25% Profit

Financial analysts from leading brokerage firm Anand Rathi gave Jio Financial Services a ‘buy call’ this week. The call indicates that JIOFIN could have bottomed out at the 230 level and is gearing up for an upward swing. The brokerage firm recommended users accumulate the shares at the 230 to 240 level and hold on.

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Anand Rathi has given Jio Financial Services shares a price target of 305. If the stock dips to 240, that’s an upward swing of nearly 25%. Therefore, an investment of Rs 1,00,000 in JIOFIN could turn into Rs 1,25,000 if Anand Rathi’s prediction is accurate.

“Jio Financial Services shares are showing signs of bottoming near a strong previous support level. Additionally, a bullish RSI divergence is visible on the chart, indicating a potential reversal. Considering these technical factors, we recommend going long in the ₹230 – 240 zone. The upside target is set at ₹305, while the stop-loss should be placed at ₹199 on a daily closing basis,” leading brokerage firm Anand Rathi said to Mint.

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“Traders should monitor price action and volume confirmation for additional conviction before entering the trade,” it said. In conclusion, Jio Financial Services shares have a price target of 305 with a 25% upswing but a stop-loss needs to be strictly put at Rs 199.

Dogecoin started a recovery wave above the $0.240 zone against the US Dollar. DOGE is now consolidating and might face hurdles near $0.270.

• DOGE price started a recovery wave above the $0.2350 and $0.2420 levels.
• The price is trading below the $0.2780 level and the 100-hourly simple moving average.
• There is a major bearish trend line forming with resistance at $0.260 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could start another increase if it clears the $0.260 and $0.270 resistance levels.

Dogecoin Price Faces Resistance

Dogecoin price started a fresh decline from the $0.3450 resistance zone, like Bitcoin and Ethereum. DOGE dipped below the $0.300 and $0.250 support levels. It even spiked below $0.220.

The price declined over 25% and tested the $0.20 zone. A low was formed at $0.20 and the price is now rising. There was a move above the 50% Fib retracement level of the downward wave from the $0.3415 swing high to the $0.20 low.

However, the bears are active near the $0.280 zone. Dogecoin price is now trading below the $0.270 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.260 level.

There is also a major bearish trend line forming with resistance at $0.260 on the hourly chart of the DOGE/USD pair. The first major resistance for the bulls could be near the $0.270 level. The next major resistance is near the $0.2850 level or the 61.8% Fib retracement level of the downward wave from the $0.3415 swing high to the $0.20 low.

A close above the $0.2850 resistance might send the price toward the $0.300 resistance. Any more gains might send the price toward the $0.320 level. The next major stop for the bulls might be $0.3420.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.270 level, it could start another decline. Initial support on the downside is near the $0.2420 level. The next major support is near the $0.2250 level.

The main support sits at $0.220. If there is a downside break below the $0.220 support, the price could decline further. In the stated case, the price might decline toward the $0.2020 level or even $0.200 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.2420 and $0.2250.

Major Resistance Levels – $0.2700 and $0.2850.