Just Dial shares surged as much as 13% in intraday trade on the BSE on Monday, 19 October, with a strong spurt in volume. Just Dial share price opened at ₹716.45 against its previous close of ₹712.45 and jumped 12.6% to an intraday high of ₹802, with volume soaring massively by 115 times.
Just Dial share price trend
The stock has surged nearly 40% over the last 6 months. It hit a 52-week high of ₹838 on 15 July and a 52-week low of ₹486.05 on 30 March this year.
On a monthly scale, the stock is up 12% so far in October, looking set to snap its two-month losing run.
Just Dial shares: More returns ahead
Experts underscore that Just Dial shares have entered a short-term uptrend with the formation of higher highs and higher lows.
Aditya Thukral, founder and analyst at AT Research and Risk Managers, highlighted that the stock is in a short-term uptrend, but the long-term structures have been corrective in nature, and the stock will continue to behave sideways over the long run within its all-time high and all-time low.
Thukral believes that though the moves have been corrective, a break above the recent high of ₹838.30 could take the stock towards ₹960 and ₹1,050. On the other hand, a break below ₹620 would extend the correction, and the stock could go towards support at ₹525.
“The stock has been in a short-term uptrend, and a break above ₹838.30 could extend its upward move towards ₹960 and ₹1,050. However, the stock is sideways from the long-term perspective, and exiting longs near long-term resistance would be a wise choice,” said Thukral.
Vipin Kumar, AVP-Research at Globe Capital Market, said Just Dial has formed a higher low and is also trading above its key long-term as well as short-term moving averages on charts.
“Going ahead, a decisive close above ₹840 will be a positive development that could lead it towards ₹950 in the near term,” said Kumar.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
