JSW Energy Share Price Overview
As of September 30, 2023, at 12:00 PM, JSW Energy shares are trading at ₹728.35, reflecting a decrease of 1.34% from the previous closing price. The broader market, represented by the Sensex, is also experiencing a decline, currently standing at ₹84612.72, down by 1.12%. Throughout the trading session, the stock has reached a high of ₹736.75 and a low of ₹721.4.
Technical Analysis
From a technical standpoint, JSW Energy is trading above the key 50-day, 100-day, and 300-day Simple Moving Averages (SMA), indicating a potential long-term uptrend. However, it remains below the shorter-term 5-day, 10-day, and 20-day SMAs, suggesting recent volatility. The stock is expected to find support at these longer SMAs and face resistance at the shorter ones, which could define its short-term price movements.
SMA Values
The specific Simple Moving Average values for JSW Energy will be critical for investors in assessing potential entry and exit points based on historical price movements.
Pivot Level Analysis
According to classic pivot level analysis, JSW Energy’s shares have established significant resistance levels at ₹765.13, ₹796.27, and ₹813.83. Conversely, key support levels are identified at ₹716.43, ₹698.87, and ₹667.73. Monitoring these levels is essential for traders looking to capitalize on price fluctuations.
Volume Trading Insights
As of midnight today, the volume of shares traded on both the NSE and BSE for JSW Energy increased by 32.57% compared to the previous trading session. Volume is a vital aspect of price analysis; an uptick in volume often indicates a stronger trend. In this scenario, a positive price movement accompanied by higher volume may signify a healthy upward trajectory, while a price decline with increased volume could suggest a potential downturn.
Market Sentiment and Trends
Overall, based on Mint’s technical analysis, JSW Energy appears to be indicating signs of a potential reversal following a significant uptrend. This makes it a key stock to watch as it might present buying opportunities in the coming days.
Fundamental Analysis
From a fundamental perspective, JSW Energy boasts a Return on Equity (ROE) of 8.73%. The current Price-to-Earnings (P/E) ratio stands at 63.19, underscoring the market’s expectation of growth in earnings. These metrics help investors understand the company’s profitability and valuation in comparison to its earnings potential.
1-Year Forecast and Investment Outlook
The median 1-year forecasted upside for JSW Energy currently is at 13.48%, with a target price set at ₹630.20. Investors should consider this when assessing potential returns.
Shareholding Structure
The company exhibits a strong promoter holding of 69.32%, complemented by a 0.68% holding by mutual funds (MFs) and 15.37% by foreign institutional investors (FIIs) as per the latest filings for the June quarter.
Recent Holding Trends
The mutual fund (MF) holding in JSW Energy has seen a slight increase from 0.64% in March to 0.68% in the June quarter, indicating a growing interest from institutional investors. Additionally, FII holding rose from 13.34% to 15.37% during the same period, signaling increased confidence from foreign investors.
Market Performance Comparison
Despite today’s 1.34% drop to ₹728.35, JSW Energy’s performance is relatively mixed compared to its peers. Stocks like Tata Power, Adani Energy Solutions, and NHPC are experiencing declines, while Adani Power shows an upward trend. Overall, benchmark indices such as Nifty and Sensex have registered declines of 1.1% and 1.12%, respectively.
