JBM Auto share price saw sharp gains in intraday trade on the BSE on Wednesday, December 24, as the mid-cap auto component stock surged almost 12% in a lacklustre market. JBM Auto share price opened at ₹593.75 against its previous close of ₹577.90 and jumped 11.6% to an intraday high of ₹645. Around 12:15 pm, the stock was 10.26% up at ₹637.20, while equity benchmark Sensex was flat at 85,544. The trade volume of the stock was over 1.5 crore at that time.
JBM Auto share price trend
The mid-cap stock appears to be set to extend its gains for the second consecutive session. In the previous session on Tuesday, the stock rose by 1%. Noting a significant increase in volume, the exchange sought clarification from the company on Monday, December 22. Later, the company clarified that it had made all the necessary disclosures and that it had not withheld any material or price-sensitive information that would have influenced the volume behaviour of the scrip.
On a monthly scale, the stock is up over 3% for December, after falling for the last two consecutive months. Year-to-date, the stock is down 18% compared to a 9% rise in the Sensex.
hit a 52-week high of ₹834.28 on December 24 last year and a 52-week low of ₹489.30 on March 17 this year.
JBM Auto shares: Can they rise more?
JBM Auto shares have seen a healthy recovery this month, making them appear attractive in the near term.
However, Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, advises investors to remain cautious.
“Investors are advised to remain cautious as multiple technical hurdles lie ahead. The stock is approaching strong overhead resistance in the form of the Ichimoku cloud as well as the 200-day exponential moving average (DEMA), which could restrict further upside,” said Patel.
Patel highlighted that on the momentum front, the daily RSI has moved above its previous major swing high, indicating improving strength. However, the price has not yet confirmed this move by surpassing its earlier swing high, raising the possibility of a hidden bearish divergence.
“Such a divergence often signals a potential slowdown or corrective phase after a sharp rally. Considering these factors, it would be prudent to book profits in the ₹650–670 zone and adopt a wait-and-watch approach until the stock shows clearer price confirmation above key resistance levels,” said Patel.
On the other hand, some technical experts believe traders can buy the stock on minor dips as long as the stock remains above ₹610.
“A sustained move above ₹700 could open the path toward ₹720–740 levels in the coming sessions. Traders can look to buy on minor dips or near current levels, with a disciplined stop loss below the support zone. As long as the stock holds above ₹610, the bullish recovery structure remains intact,” said Aakash Shah, a research analyst at Choice Broking.
Shah underscored that the stock has witnessed a strong rebound, indicating a shift in momentum after a prolonged corrective and consolidation phase.
The stock has bounced sharply from the ₹580 support zone and is now attempting to regain higher levels, signalling renewed buying interest at lower levels.
From a technical perspective, Shah underscored that JBM Auto is trading above its short-term and medium-term EMAs (20 and 50 EMA), while approaching the 100 EMA zone near ₹650–660.
“The flattening and upward turn in shorter EMAs suggests a trend reversal on the short-to-medium term charts. Although the 200 EMA near ₹700 remains a key overhead resistance, the current price action indicates improving structure and strength,” said Shah.
“The RSI (14) is around 64, which reflects strong bullish momentum without entering extreme overbought territory. This suggests there is room for further upside before momentum exhaustion sets in,” Shah said.
Shah believes the prior demand zone near ₹600–610 is now expected to act as immediate support on any minor correction. He said on the upside, ₹680–700 remains a critical resistance zone aligned with the long-term EMA and previous supply area.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.