JP Power share price jumps 11%; can this power stock rise further? Experts weigh in

Jaiprakash Power's share price continued to witness strong buying interest for the second consecutive session, as the power stock, after gaining over 2 per cent the previous day, soared more than 11 per cent in morning trade on the BSE on Wednesday, March 19. JP Power share price opened at ₹13.48 against its previous close of ₹13.39 and jumped 11.43 per cent to the level of 14.92. Around 11:50 AM, the power stock traded 10.46 per cent higher at ₹14.79.

JP Power share price trend

Shares of Jaiprakash Power Ventures hit a 52-week low of ₹12.35 on March 3 this year, falling 48 per cent from its 52-week high of ₹23.77, which it hit on October 10 last year.

Over the last year, till March 18 close, the stock has lost 15 per cent. However, on the longer timeframes of three years and five years, the stock has surged 90 per cent and 1,812 per cent, respectively.

Can JP Power stock rise further?

Experts highlight the technical indicators which suggest the stock could rise further from the current level.

KKunal V Parar, VP of technical research and algo at Choice Broking pointed out that on the daily chart, the stock has strong support at ₹12.50, which previously acted as a key support zone, leading to an upward move towards ₹22. A similar price action is anticipated at the current level.

Parar noted that a bullish Hammer candlestick formation has emerged on the weekly chart, signalling a potential bullish reversal. On the hourly chart, the stock is trading above its 50-day moving average (MA), indicating a sustained positive trend.

The RSI (Relative Strength Index) is above 50, suggesting strong momentum and bullish sentiment.

"Based on the current technical setup, we anticipate an upside move towards ₹16.30 – 19, with a strict stop loss at ₹12.50 to manage risk," said Parar.

While the stock may extend gains, some experts recommend booking profits at the current juncture, noting a key resistance at ₹14.92.

"JP Power is facing resistance at ₹14.92 and witnessed selling from this level on March 12, 2025. As a result, it's advisable to book profits around ₹14.90-15 and wait for a decisive close above ₹14.92 for further upside confirmation," said Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers.

"A breakout above this level could signal strength, while failure to sustain may lead to a pullback. Traders should watch price action closely before taking fresh positions," said Patel.

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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.