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Dow Advances; Nvidia’s Worst Day Since April Weighs on Nasdaq

FinCrypto Staff

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Stocks falter;  Ether soars on ETF hopes

Stock Indexes Wrap: Chip Sell-Off Continues; Energy Stocks Charge Higher

8 hr 54 min ago

The Dow

Chevron (CVX) rose 2.6% as energy stocks led the market’s gainers. 

Apple (AAPL) ticked up 0.3% despite becoming the first company to be charged under the EU’s new Digital Markets Act. 

Most of the index’s tech stocks lagged—including Salesforce (CRM), down 2.1%, and Amazon (AMZN), down 1.9%—as the AI sell-off that began last week hastened. 

S&P 500

Nearly all of the index’s top performers Monday were oil and gas companies. SLB (SLB) gained 4%, while Occidental Petroleum (OXY) rose 3.8% and ConocoPhillips (COP) climbed 3.4%. Energy stocks have lagged the broader market for months as AI has dominated investor interest.

Target (TGT) rose 2.4% after it announced a partnership with Shopify to expand its third-party digital marketplace, Target Plus.

ResMed (RMD) slumped 11.4% after Eli Lilly (LLY) published research on Friday suggesting its weightless drug Zepbound could reduce the severity of patients’ sleep apnea, thus threatening ResMed’s sleep mask sales. Eli Lilly shares ticked up 0.8%. Dexcom (DXCM), another medical device maker threatened by the rise of weight-loss drugs, slid 5.3%.

Super Micro Computer (SMCI) tumbled 8.7% as last week’s AI sell-off continued. Nvidia (NVDA) dropped 6.7%, making Monday its second-worst day since the beginning of its AI rally in late 2022. Qualcomm (QCOM) shed 5.5%.

Netflix (NFLX) fell 2.5% amid reports of internal talks about offering a free, ad-supported tier to boost advertising revenue. 

Nasdaq 100

Food stocks gained as investors shunned high-growth AI stocks in favor of staples. Mondelez International (MDLZ) advanced 2.9% and Kraft Heinz (KHC) rose 0.8%. 

Chip stocks led the index lower. Arm Holdings (ARM) fell 5.8% and Broadcom (AVGO) declined 3.7%. The companies that sell the equipment required to make the most sophisticated chips, including ASML Holding (ASML) and KLA Corp (KLA), also fell.

Chipotle Stock Price—One of the Highest on Record—Holds Steady Ahead of Split

9 hr 36 min ago

Chipotle Mexican Grill (CMG) investors will soon see a much larger number of shares in their portfolios after Chipotle stock undergoes a 50-for-1 split after markets close Tuesday, with investors gaining 49 new shares for each one they owned before the split.

The fast-casual chain announced plans for a split in March, and the move was approved by shareholders at its annual meeting earlier this month.

Chipotle shares have climbed steadily since the company’s public debut in 2006 at an initial public offering (IPO) price of $22 per share. Shares are up more than 57% over the last year after first closing above the $2,000 mark in April 2023.

The new shares will be distributed after markets close Tuesday, resulting in 50 times as many shares at a lower price per share, without changing the total value of investors’ Chipotle holdings or the company’s market capitalization. The first day of Chipotle’s split-adjusted trading will be on Wednesday.

Chipotle shares were 0.3% lower at $3,199 late in the session Monday, though they’ve gained nearly 40% since the start of the year, and last Tuesday closed at a record high of $3,427.61, one of the highest stock prices in history.

Aaron McDade

Affirm Holdings Surges as It Gets a ‘Buy’ Rating From Goldman Sachs

10 hr 40 min ago

Shares of Affirm Holdings (AFRM) jumped in intraday trading Monday as Goldman Sachs initiated coverage of the buy now, pay later (BNPL) loan service with a “buy” rating, calling it “the leading provider of modern credit solutions for consumers.”

Goldman also set a price target of $42, a 41% premium to the closing price Friday.

The analysts noted that Affirm had “a diverse portfolio of products for point of sale financing, and every day spending,” and that they were particularly impressed with the sophistication of its underwriting compared with other financial technology (fintech) companies.

Solid underwriting, the analysts said, should allow it to increase its reach with subprime and near-prime borrowers, a market that’s been hard for many lenders to “sustainably participate in.”

Affirm Holdings shares jumped more than 10% Monday but remained more than 30% lower year-to-date. 

Bill McColl

Target Teams With Shopify To Boost Online Sales

11 hr 19 min ago

Target (TGT) shares advanced in intraday trading Monday after the retailer announced a partnership with the e-commerce platform Shopify (SHOP) to boost its online sales.

Target said the deal will expand Target Plus, its third-party digital marketplace, “through a hand-selected assortment of new and on-trend products.”

Merchants who use Shopify can apply to sell online on Target Plus through Shopify’s Marketplace Connect app, while some select ones will also be able to make their products available in Target’s physical stores.

Target shares were up more than 2% Monday afternoon, and are up about 5% year-to-date. Shares of Shopify were down 2% and have declined roughly 18% in 2024.

Bill McColl

TradingView

ResMed Shares Plummet on Eli Lilly’s Sleep Apnea Trials

12 hr 11 min ago

Shares of medical device maker ResMed (RMD) tumbled in intraday trading Monday as markets reacted to the results of a pair of Phase 3 clinical trials from drugmaker Eli Lilly (LLY) that could spell trouble for ResMed’s core business.

Friday afternoon, Eli Lilly released data from two clinical studies that showed the capability of one of the company’s popular weight-loss drugs, Zepbound, to reduce the severity of sleep apnea without the need for a mask that is typically used to treat the disorder.

The company said in Friday’s release that it has submitted the drug to the Food and Drug Administration (FDA) to get sleep apnea added to the label as a condition Zepbound can treat, and said it expects “regulatory action” as early as the end of 2024.

Sleep apnea is ResMed’s primary area of treatment, according to its own earnings materials. The company sells medical devices like sleep apnea masks, and generated about $1.2 billion in revenue, mostly from device sales, in its most recent quarter.

ResMed stock was down more than 11% Monday afternoon. Eli Lilly shares were up 2%.

Aaron McDade

Alnylam Stock Soars on Strong Results in Heart Drug Study

13 hr 9 min ago

Shares of Alnylam Pharmaceuticals (ALNY) skyrocketed after the biopharma firm announced strong results from a late-stage study of its RNA interference drug for a rare heart condition.

The company reported a Phase-3 trial of its vutrisiran showed “a statistically significant reduction in the composite of all-cause mortality and recurrent cardiovascular (CV) events” in patients suffering from transthyretin amyloidosis with cardiomyopathy, or ATTR-CM. That’s a condition which causes the heart to stiffen and reduces its ability to pump blood. Alnylam added that vutrisiran also produced significant improvements across all secondary endpoints for those treated.

Alnylam said it would be moving ahead with submissions to health officials starting later this year, including asking the Food and Drug Administration (FDA) for a Priority Review Voucher.

Vutrisiran, which goes under the brand name Amvuttra, has already been approved to treat nerve damage in those with hereditary transthyretin amyloidosis.

Alnylam shares jumped 38%, bringing their year-to-date gain to 20%.

Bill McColl

Apple and Meta in Focus After Reportedly Discussing Generative AI Partnership

14 hr 2 min ago

iPhone maker Apple (AAPL) has held discussions with its big tech rival Meta Platforms (META) to integrate the Facebook parent’s generative artificial intelligence (AI) model into its recently announced personalized AI system, Apple Intelligence, The Wall Street Journal reported on Sunday.

Such a deal would allow Meta to leverage Apple’s vast distribution of users through its iPhones, similar to how software companies gain exposure to millions of potential customers through the tech behemoth’s App Store.

Apple, which recently partnered with ChatGPT owner OpenAI and said it wants to integrate with Google’s Gemini, has also discussed adding generative AI technology developed by startups Anthropic and Perplexity into Apple Intelligence, people familiar with the discussion told the Journal, adding that talks held with Meta haven’t been finalized and could fall through.

Source: TradingView.com.

While the 50-day moving average crossed above the 200-day MA to form a bullish golden cross pattern around the same time Apple shares broke out to a new record high earlier this month, the price has recently retraced, increasing the likelihood for further weakness this week.

Looking ahead, investors should monitor the key $197 level, an area where the price finds support from a horizontal line linking several prominent peaks over the past eleven months.

Source: TradingView.com.

Since gapping more than 10% lower after issuing weak revenue guidance in late April, Meta shares have continued to trend mostly higher, closing the gap and climbing back above the 50-day MA. 

If the stock moves lower, investors should keep an eye on the $446 level, an area where the price may find buying interest around a multi-month horizontal line. Conversely, an upside move may run into selling pressure near the stock’s all-time high (ATH) set in early April at $531.49.

Apple shares rose almost 2% and are up around 10% this year; Meta’s stock is 1% higher, bringing its year-to-date gain to more than 40%.

Tim Smith

RXO Surges After Buying Coyote Logistics Unit From UPS for More Than $1 Billion

14 hr 33 min ago

RXO (RXO) shares soared in intraday trading Monday, a day after the package delivery firm purchased Coyote Logistics, the third-party asset-light freight brokerage unit of United Parcel Service (UPS), for $1.025 billion in cash. 

RXO said the addition of Coyote will create the third-largest provider of brokered transportation in North America. The company noted that the deal will be “immediately and significantly accretive to RXO’s adjusted diluted earnings per share and adjusted free cash flow.”

Chief Executive Officer (CEO) Drew Wilkerson explained that the acquisition “will increase the number of customers that do more than $1 million in business with us by approximately 80%.” He added that RXO would get “both immediate and long-term opportunities for revenue and earnings growth.”

The transaction is expected to be completed by the end of the year.

The news sent shares of RXO up more than 18%, although they are just up 3% in 2024. UPS shares rose 1%.

Bill McColl

Nvidia Stock in Spotlight After Drop From Record High

15 hr 19 min ago

Artificial intelligence (AI) chipmaker Nvidia (NVDA) remains in the spotlight after shares dropped from their record high on Thursday.

Despite little in the way of company-specific announcements late last week, investors may have used a rare moment of broad market weakness for profit-taking following the stock’s meteoric rise this year amid the AI boom.

Source: TradingView.com.

Since finding support around the 50-day moving average in April last year, Nvidia shares have tracked sharply higher, with investors viewing any dips as buying opportunities. However, Thursday’s intraday reversal from their all-time high (ATH) created a bearish engulfing pattern, a candlestick formation that warns of a potential downside reversal, especially after a significant price advance.

If Nvidia’s price continues to retrace this week amid a shift in sentiment, investors may keep an eye on chart levels around $119 and $110, both areas where the stock could find support from minor pullbacks over the past three weeks. A failure to hold these key regions could see the shares revisit a horizontal line near $97 that connects several prior record highs.

Nvidia shares fell almost 4% in early trading on Monday, but remain up more than 145% so far this year.

Tim Smith

Stock Futures Mixed in Premarket Trading

15 hr 58 min ago

Futures contracts connected to the Dow Jones Industrial Average were up 0.2% in premarket trading on Monday.

S&P 500 futures were little changed.

Nasdaq 100 futures fell 0.2%.

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We are the editorial team of FinCrypto, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on FinCrypto, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Breakfast on Wall Street: The Week Ahead

FinCrypto Staff

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Wall Street Breakfast profile picture

The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).

The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.

In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.

Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.

Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.

Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.

Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.

Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.

IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.

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Trump shooting: Gold could hit record high, dollar and cryptocurrencies set to jump

FinCrypto Staff

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Police cars outside the residence of Thomas Matthew Crooks, the alleged shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. In the aftermath of the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being killed by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)

Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)

Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.

“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”

Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.

An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.

Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.

Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.

Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.

“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.

Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.

But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.

Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.

“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”

Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.

“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”

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Latest Business News Live Updates Today, July 11, 2024

FinCrypto Staff

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Latest Business News Live Updates Today, July 11, 2024

Follow us for stories on Bill Gates, Elon Musk, Mukesh Ambani, Gautam Adani as we bring you everything that’s happening in the business world. Follow the latest gold and silver prices here too. Stay in the know on all things business with us.

Latest news on July 11, 2024: Airtel says its new Xstream Fiber plans bundle over 350 live TV channels (Official Photo) (Reuters) Disclaimer: This is an AI-generated live blog and has not been edited by Hindustan Times staff.

Follow all the updates here:

  • Thu, 11 Jul 2024 08:44 PM

    Business News LIVE Updates: Decoding Airtel’s new Xstream Fiber packages, finding value with Live TV and OTT

    • Airtel confirms to HT that the live TV proposition is being delivered using its DTH network, while the bundled streaming subscriptions are an extension of its Xstream Play platform.

    Read the full story here

  • Thu, 11 Jul 2024 03:58 PM

    Business News LIVE Updates: TCS Q1 results meet estimates: Net profit up 9%, ₹10 dividend declared

    • TCS’s consolidated revenue rose 5.4% to Rs 626.13 billion in the June quarter. Analysts had expected revenue of Rs 622.07 billion, as per LSEG data.

    Read the full story here

  • Thu, 11 Jul 2024 03:51 PM

    Business News LIVE Updates: Indian companies falsified generic Viagra data to get approval, says US FDA: Report

    • Synapse Labs Pvt. Ltd may have been used in hundreds of drugs that are still available for sale, the report said.

    Read the full story here

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  • Thu, 11 Jul 2024 03:09 PM

    LIVE Business News Updates: Namita Thapar’s emotional post on Emcure IPO listing: ‘Mirza Ghalib sums up my feelings’

    • Emcure Pharmaceuticals was listed at ₹1,325.05, up 31.45% on the BSE and NSE on July 10.

    Read the full story here

  • Thu, 11 Jul 2024 02:39 PM

    LIVE business news updates: Amazon could face investigation over treatment of UK food suppliers, watchdog says

    • An Amazon spokesperson said the company has made several improvements for food suppliers since last year’s results.

    Read the full story here

  • Thu, 11 Jul 2024 01:39 PM

    LIVE Business News Updates: This Bengaluru company aims to launch a ‘space habitat’ by 2027, in talks with SpaceX

    • AkashaLabdhi calls itself a “home among the stars” as it says the company’s area of ​​expertise is signal processing and continuous automation.

    Read the full story here

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  • Thu, 11 Jul 2024 01:10 PM

    Business News LIVE Updates: Amazon India employees on working conditions: Made to stand for hours, bathroom breaks not allowed

    • A survey conducted by UNI Global Union with the Amazon India Workers Association had 1,838 participants who alleged appalling working conditions at Amazon facilities in India.

    Read the full story here

  • Thu, 11 Jul 2024 12:44 PM

    LIVE Business News Updates: UK overhauls listing rules in bid to attract IPOs to London: What has changed?

    • The new rules allow companies to carry out more activities without putting them to a shareholder vote, the UK’s Financial Conduct Authority said.

    Read the full story here

  • Thu, 11 Jul 2024 12:18 PM

    Business News LIVE Updates: Want to send money abroad? Open foreign currency accounts at GIFT City

    • Foreign currency accounts will be like a bank account in India, but instead of rupees, you hold foreign currency like US dollars.

    Read the full story here

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  • Thu, 11 Jul 2024 11:30 AM

    Business News LIVE Updates: First Abu Dhabi Bank denies interest in acquiring stake in Yes Bank: Report

    • The report said the Yes Bank stake sale has attracted interest from Japan, including Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc.

    Read the full story here

  • Thu, 11 Jul 2024 11:04 AM

    LIVE Business News Updates: TCS Share Price Surges Ahead of Q1 Results: What Brokers Say About the Stock

    • TCS Share Price: The stock opened at ₹3,944.65 against its previous close of ₹3,909.90. It then rose 1.8 percent to ₹3,979.90 level.

    Read the full story here

  • Thu, 11 Jul 2024 10:22 AM

    LIVE Business News Updates: Reliance Jio IPO listing likely in 2025 at $112 billion valuation: Jefferies

    • Jio “could list at a valuation of $112 billion” and add “7-15 percent upside” to Reliance Industries’ share price, Jefferies said.

    Read the full story here

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  • Thu, 11 Jul 2024 09:42 AM

    LIVE Business News Updates: Yes Bank shares rise after Moody’s revises outlook to ‘positive’ from ‘stable’

    • Global rating agency Moody’s has raised its outlook on Yes Bank to positive from “stable” despite expectations of a gradual improvement in its depositor base.

    Read the full story here

  • Thu, 11 Jul 2024 09:16 AM

    Business News LIVE Updates: Sahaj Solar IPO opens today: All you need to know before subscribing to the issue

    • Sahaj Solar IPO: The block issue aims to raise ₹52.56 crore through issuance of 2.92 million new shares and will close on July 15.

    Read the full story here

  • Thu, 11 Jul 2024 08:40 AM

    LIVE Business News Updates: Why Analysts Believe India’s Earnings Season May Disappoint Stock Market Investors

    • Investors in Indian stocks hoping for a robust earnings season to justify expensive valuations are likely to be disappointed.

    Read the full story here

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  • Thu, 11 Jul 2024 08:35 AM

    LIVE Business News Updates: Elon Musk Says Second Neuralink Brain Implant Will ‘Give People Superpowers’ Within a Week

    • Elon Musk said Neuralink will make some changes to try to alleviate the problem of its electrode wires retracting from brain tissue.

    Read the full story here

  • Thu, 11 Jul 2024 07:59 AM

    LIVE Business News Updates: Apple warns Indian iPhone users of possible Pegasus-like ‘spyware attack’

    • In April this year, the Indian Computer Emergency Response Team (Cert-In) flagged several vulnerabilities in Apple’s operating system for iPhone and iPad.

    Read the full story here

  • Thu, 11 Jul 2024 07:45 AM

    Business News LIVE Updates: US stock markets at record highs led by world’s biggest tech companies

    • The Philadelphia Semiconductor Index rose 2.4% to a record high after Taiwan Semiconductor Manufacturing Co. reported strong quarterly revenue.

    Read the full story here

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News / Business / Latest Business News Live Updates Today, July 11, 2024

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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?

FinCrypto Staff

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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?

Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.

Jio Financial Services News

Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”

“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.

Jio Financial Stock Target Price

Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”

On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above ₹260, one can buy this Reliance Group stock at the short term target of ₹295, keeping a stop loss of ₹240 apiece.”

Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.

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