JK Tyre & Industries Ltd – Daily Technical View

The stock has moved up sharply and is currently trading inside a rising wedge structure, which generally indicates loss of momentum near the top. Recent price action shows rejection from the Top-2 resistance zone, hinting at short-term consolidation or mild correction.
🔍 Technical Observations:
Price is hovering near the upper Bollinger Band, indicating stretched levels
Trading close to the 20-DMA, showing indecision after the rally
RSI is in the 55–60 range, still positive but cooling off
Volumes have moderated after the recent up-move
🔑 Key Levels:
Immediate Support: ₹500 – ₹490
Major Support: ₹470
Resistance Zone: ₹530 – ₹540
Upside Targets (on breakout): ₹560 / ₹580
📈 Outlook:
As long as the stock holds above ₹490, the structure remains constructive.
A sustained breakout above ₹540 with volume can trigger the next leg of upside.
Failure to hold ₹490 may lead to deeper consolidation towards ₹470.
⚠️ Educational view only. Not a buy/sell recommendation.