Jio Financial surges over 50% from March lows: Will the momentum sustain?

Jio Financial Services has rallied more than 50% from its 52-week low of Rs 198.6 hit in March, reflecting growing investor optimism on the back of strategic moves and regulatory approvals. On Tuesday, the stock traded in the Rs 300 range, buoyed by strong technical support and positive sentiment in the broader financial services space.

According to Kunal V Parar, Vice President – Technical Research & Algo at Choice Broking, the stock has been consolidating in a tight range, showing signs of a potential breakout.

"On the daily chart, the stock has been trading within a range-bound zone over the past several sessions, indicating the absence of a clear directional bias at this point," said Parar.


"However, if the stock manages to break out on the upside, it would confirm a Flag pattern breakout, which could potentially trigger a fresh leg of upward momentum."

He added that Jio Financial is currently trading above its 50-day moving average, reflecting an underlying positive trend, while the daily Relative Strength Index (RSI) remains above the 50 mark — a signal of firm market breadth and strengthening momentum.

"Until a decisive breakout occurs on either side, we expect the stock to continue trading within the Rs 280 to Rs 310 range. A breakout beyond this zone will likely define the next directional move," he said.

Strategic moves fuel optimism

The stock’s rally also coincides with a series of corporate developments. Earlier this month, Jio Financial acquired 7.90 crore shares of Jio Payments Bank Limited from State Bank of India for Rs 104.54 crore, making the payments arm a wholly owned subsidiary.

In parallel, JioBlackRock Investment Advisers — a 50:50 joint venture between Jio Financial and BlackRock — received regulatory approval from SEBI and BSE to begin operations as an investment adviser. This follows earlier SEBI clearance for JioBlackRock AMC to manage mutual fund operations in India.

Hitesh Sethia, MD and CEO of Jio Financial Services, said the approval marked a "significant milestone" and would help democratise access to world-class financial advisory services for Indian investors. BlackRock COO Rob Goldstein also emphasised the opportunity in India’s rapidly expanding investment ecosystem.

What’s next?

With momentum building both technically and strategically, the next leg for Jio Financial may depend on whether it can decisively break past resistance levels. Market watchers will also be closely tracking how soon the company scales its digital-first financial advisory business and capitalises on its ownership of Jio Payments Bank.

Also Read: Swiggy shares jump over 20% in a month: Is a bigger rally brewing?

For now, investors appear to be betting on Jio Financial’s long-term play in India’s evolving financial landscape — but the near-term trajectory remains dependent on key breakout levels.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)