26% dip in YTD! Jio Financial Services shares hit 52-week low — will trend reverse? Target price, support, resistance
AI Summary
The recent decline in Jio Financial Services shares, coupled with a significant drop below key support levels, highlights a bearish sentiment in the stock despite strong financial performance. Retail investors should be cautious, as the technical indicators suggest further weakness could be on the horizon, particularly if the stock fails to hold above the ₹205–₹200 support band. This situation underscores the importance of monitoring both technical and fundamental factors when considering investments in the financial services sector, especially in a volatile market environment.
Jio Financial Services shares fell more than 2% on Tuesday, 29 September, hitting a fresh 52-week low amid a broader sell-off in the equity market. The stock has declined more than 25% so far this year, with the recent breakdown below key support levels raising concerns over further weakness. Technical analysts point to multiple levels that could determine whether the stock stabilises or extends its decline.
Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, said the stock is now close to undoing its entire upmove from last year after the sharp recovery seen in 2025. While the broader chart remains range-bound, he identified the ₹205– ₹200 band as a strong long-term support zone. However, the recent breakdown below ₹230, which had acted as a strong support level earlier this year, has shifted control towards sellers. Rathi therefore expects the stock could retest the ₹205– ₹200 support band.
Original Article
Published on Livemint
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This is a market news update from Livemint, published on 29 September 2026.
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