- Shares surged over 27% in a month
- Analysts predict sustained bullish momentum,
- 15% in a week identifying key support levels.
The shares of PC Jeweller Ltd have been in action for the past few weeks, rising over 27 per cent in a month and over 15 per cent in a week. The jewellery stock traded higher in early trade on Thursday despite a massive decline in the domestic stock market. PC Jeweller shares started trading in the green at Rs 14.61 against the last close of Rs 14.47 on NSE. It rose further to hit a day high at Rs 14.65, up 1.24 per cent.
Meanwhile, analysts predict that the current bullish momentum may sustain. Sachin Gupta, VP – Technical Research at Choice Equity Broking, says the jewellery stock has broken out from an ascending channel pattern and witnessed a healthy retracement toward the upper trendline of the pattern on the daily chart.
"The retracement appears to be finding support near the breakout zone, while the stock continues to trade above all key moving averages, indicating a positive trend structure. Daily RSI at 67.02 reflects strong momentum and remains supportive of the ongoing bullish setup," Gupta noted.
PC Jeweller Stock Technical Outlook: Support And Resistance
According to Gupta, the immediate support is placed in the Rs 12.50–Rs 13.00 zone, with the 20 EMA around Rs 12.63 providing additional dynamic support.
"Holding this zone would help maintain the bullish price structure and could support the next upward move. On the upside, Rs 15 is the immediate resistance, followed by Rs 16 as the next key resistance level," Gupta highlighted.
According to the analyst, a sustained move above Rs 15 could strengthen the momentum and open the possibility of further upside toward the next resistance zone.
Also Read: NSE Shares Make Muted Debut, List At Nearly 1% Premium Against IPO Price
Support and Resistance
Immediate Support: Rs 12.50–Rs 13.00 zone, with the 20 EMA around Rs 12.63 providing additional dynamic support.
Immediate Resistance: Rs 15.
Next Key Resistance: Rs 16.
Share Price History: 28% Rally In A Month
Timeframe | Stock Performance / Growth |
|---|---|
Last Week | > 15% |
1 Month | > 28% |
6 Months | > 75% |
Year-to-Date (YTD) | > 50% |
Last seen, PC Jeweller stock was trading at Rs 14.26, down 1.45 per cent or Rs 0.21--erasing early gains amid selling pressure.
PC Jewellers Clears Debt
In line with its objective of achieving a debt-free status, the Company said in an exchange filing it has cleared and repaid a loan from another consortium bank.
"In line with its objective of achieving a debt-free status in the current month itself, the Company has successfully cleared and repaid all its outstanding debt under the terms of the Settlement Agreement dated 30 September 2024 with respect to 1 more bank. With this successful clearance of debt, the Company has now repaid all the outstanding debt of 13 out of the 14 consortium banks, with all repayments completed ahead of scheduled due dates," the company said in an exchange filing on Wednesday, September 23.
Also Read: India's GDP Growth Forecast Raised To 6.9% By Fitch: What It Means For Interest Rates
Stock Market Today
The key domestic equity indices crashed on Thursday amid broad-based selling due to escalating geopolitical uncertainty. Lats seen, BSE Sensex was trading at 73,980.94, down 1.13 per cent or 847.31 points. NSE's Nifty 50 was quoted at 23,172.35, down 1.17 per cent or 274.45 points.
Disclaimer: This story is for informational purposes only. It should not be considered as investment advice. Please seek advice from a certified expert before investing.