Jaiprakash power came off its highs on Tuesday but stayed firmly in breakout territory, last seen trading at ₹22.39. The stock had touched a fresh 52-week peak of ₹23.85 earlier in the session, before some profit-taking kicked in. Still, with a 25% gain just this month, the uptrend remains well in play.
The surge has been driven by a cocktail of high delivery volumes, sharp intraday action, and persistent market buzz about potential corporate interest, with Adani’s name still doing the rounds in trader circles. There’s no confirmation on any deal, but the lack of denial has been enough to keep the momentum alive.
Traders who’ve caught the move early aren’t letting go just yet. Some technical analysts are even penciling in targets as high as ₹30, calling the recent breakout a launchpad rather than a peak.
JP Power’s chart has flipped decisively bullish, and momentum remains on the side of the buyers. Unless the stock breaks below ₹21, the rally looks healthy and technical projections point to ₹28–₹30 as the next big zone on the radar.
Until there’s clarity on the rumored strategic interest, the stock may stay headline-sensitive. But for now, JP Power is the trader’s favorite in India’s high-volatility pack.
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This post was last modified on Jul 08, 2025, 13:52 BST 13:52