Jay Thakkar of ICICI Securities Shares Insights on Jio Financial, Ola Electric & Kalyan Jewellers
Jay Thakkar, a senior market analyst at ICICI Securities, recently provided his expert views on three notable stocks: Jio Financial Services, Ola Electric, and Kalyan Jewellers. His analysis sheds light on their current performance and potential investment opportunities.
Jio Financial Services: Caution Advised
Jio Financial Services, the financial arm of Reliance Industries, has been facing downward pressure in the market. Thakkar notes that the stock is witnessing a short build-up, meaning traders are taking bearish positions expecting a decline. Additionally, the presence of Market-to-Market Settlement (MTS) positions indicates that investors are adjusting their portfolios in response to recent volatility. These factors suggest that the stock could face further weakness in the short term. As a result, Thakkar advises investors to be cautious before taking fresh positions in Jio Financial, particularly in the absence of strong upward momentum.
Kalyan Jewellers: Buying Opportunity Around ₹400
Kalyan Jewellers, a leading jewellery retailer in India, is currently in a consolidation phase after experiencing a strong rally in recent months. Thakkar suggests that investors should consider entering the stock around the ₹400 level, as this could provide an attractive buying opportunity. The consolidation phase indicates that the stock is stabilizing before its next potential move. If Kalyan Jewellers holds this support level, it could see further upside in the medium to long term. However, investors should watch key technical indicators and overall market sentiment before making any commitments.
Ola Electric: Market Share Decline Raises Concerns
Ola Electric, one of India’s leading electric vehicle (EV) manufacturers, has been facing competitive challenges. According to Thakkar, the company has been losing market share to rivals like TVS, which has gained traction in the EV segment. This decline in market dominance could impact Ola Electric’s growth prospects. Thakkar suggests that investors should wait for fundamental improvements before taking positions in the stock. Until the company demonstrates a turnaround in market share and financial performance, it may not be the best time to invest in Ola Electric.
: Mixed Signals for Investors
Thakkar’s insights suggest a mixed approach for investors. While Jio Financial warrants caution due to bearish indicators, Kalyan Jewellers may present a buying opportunity at ₹400. Meanwhile, Ola Electric’s declining market share is a concern, and investors are advised to wait for signs of recovery. As always, investors should conduct their own research and assess risk factors before making investment decisions.
