Jio Financial Set For Breakout: SEBI RA Prameela Balakkala Eyes ₹340 On Bullish Signals

Jio Financial shares show bullish momentum after SEBI’s nod for its mutual fund JV with BlackRock. Analyst highlights a potential breakout above ₹295.
 In this photo illustration, the Jio Financial Services company logo is seen displayed on a smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images)
In this photo illustration, the Jio Financial Services company logo is seen displayed on a smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images)
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Preeti Ayyathurai·Stocktwits
Updated Jul 02, 2025 | 8:31 PM GMT-04
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Jio Financial Services shares are gaining ground after the market regulator SEBI approved its asset management venture with BlackRock to launch mutual fund operations in India, paving the way for diversified investment solutions. 

Jio Financial Services shares have risen 6% in the last five days. 

SEBI-registered analyst Prameela Balakkala highlights that the stock shows strong technical momentum, fueled by key breakout signals and positive market developments. 

She believes that the stock appears poised for further upside, with institutional activity playing a crucial role. 

 On the technical charts, the stock is trading above key moving averages, such as the 20-day Simple Moving Average (SMA), 50-day Exponential Moving Average (EMA), and 200-day EMA, reinforcing bullish sentiment. 

The weekly Relative Strength Index (RSI) is at 58, maintaining upward strength with room to extend gains. 

Balakkala notes that a sustained move above ₹295 could trigger a rally toward ₹330-₹340, which is the institutional resistance zone. 

She sees potential strong accumulation near support levels of ₹240-₹250, suggesting buyers may step in on pullbacks. 

 For traders, a daily close above ₹295 with strong volume would validate the bullish trend. 

 Balakkala advises entry near ₹250-₹260, provided institutional support and accumulation signals are visible. 

Profit booking is advisable near ₹330-₹340. And if it sustains above ₹340, the next resistance lies around ₹365-₹370, requiring volume confirmation. 

 Conversely, a daily close below ₹240 with heavy selling pressure may indicate trend reversal, warranting caution, Balakkala adds. 

For the momentum signal, she suggests tracking RSI crossing 60 on weekly charts to confirm sustained strength. 

In other market developments, Jio Credit successfully raised ₹1,030 crore via bond issuances, highlighting strong financial positioning.

Data on Stocktwits shows that retail sentiment is ‘extremely bullish’ on this counter amid surging message volumes. 

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Jio Financial sentiment and message volume on May 28 as of 10:30 am IST. | source: Stocktwits

Jio Financial shares have fallen 2% year-to-date (YTD).

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