SWING IDEA - JAMMU AND KASHMIR BANKJ&K Bank is currently showing several technical indicators that suggest a potential swing trade opportunity.
Reasons are listed below :
105 Zone as Strong Support : The 105 level has proven to be a significant support zone, providing a strong foundation for potential upward movement.
Bullish Engulfing Candle : A bullish engulfing candle that engulfed 29 daily candles has formed, indicating strong buying pressure and a potential reversal of the recent downtrend.
Sudden Spike in Volume : A noticeable increase in trading volumes confirms the strength of the price move, suggesting strong investor interest and participation.
0.5 Fibonacci Support : The price is bouncing off the 0.5 Fibonacci retracement level, suggesting a healthy pullback and resumption of the uptrend.
Target - 135 // 150
Stoploss - Daily close below 104
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@visionary.growth.insights
J_KBANK trade ideas
Jammu & Kashmir Bank looking NorthwardsJammu & Kashmir Bank Ltd. CMP 117 engages in the provision of banking and financial services. The firm's products and services include personal loans, personal accounts, term bank deposits, mutual fund, life insurances, business loans, business accounts, and business insurance. It operates through the following segments: Treasury Operations, Corporate and Wholesale Banking, Retail Banking, and Other Banking Business.
The positive aspects of the company are Company with Low Debt, Annual Net Profits improving for last 2 years, Company with Zero Promoter Pledge and FII / FPI or Institutions increasing their shareholding. Stocks Underperforming their Industry Price Change in the Quarter, Declining Net Cash Flow and MFs decreased their shareholding last quarter.
Entry can be taken after closing above 124. Targets in the stock will be 131 and 138. The long-term target in the stock will be 144 and 152. Stop loss in the stock should be maintained at Closing below 102.
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
BUY J&K bankBuy J&K Bank
Hello All,
I am glad you have liked my post and I am sure everyone who have traded on these post would have made profits.
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If you like my Idea, Don't forget to Boost and comment on my Analysis.. The recommendations are purely for educational purpose only, consult you financial advisor before trading.
Gautam Khanna
Technical Analyst by Passion :-)
Jammu & Kashmir Bank Ready for Long.First Target : 208
Second Target : 410
quote is equal to 85.440 INR at 2023-08-30. A long-term increase is expected,With a 5-year investment, the revenue is expected to be around +64.43%. Your current $100 investment may be up to $164.43 in 2028.
Future movement Prediction of The Jammu & Kashmir Bank Limited JNKBANK appears to be in uptrend, Price is above an important level of 85.13 on charts, and as long as price remains above this level, the uptrend of stock might continue.
J&K Bank has recorded its highest ever annual net profit amounting to Rs.1197 crore.
The J&K Bank has launched a defamation campaign against non-performing assets (NPAs) without giving them a fair chance to be heard, and the Federation of Chambers of Industries Kashmir (FCIK) has called for immediate intervention by the UT government to resolve the matter. The demand was made in a marathon meeting between the FCIK Advisory Committee and Presidents of organised industrial estates, held at FCIK headquarters under the chairmanship of M.D. Qureshi, which was attended by Presidents of industrial estates including Lassipora, Khunmoh, Rangreth, Zainakote, Sanat Nagar, BAMK, Zakura, Anchidora Anantnag, Vessu, Ganderbal, Gagran Shopian, Shalteng, Sopore, Baramullah, Kupwara, besides other members of the Advisory Committee.
J&K Bank today opened the new Khanetar Branch location in Poonch and commissioned a Cash Recycler Machine (CRM) in Kishtwar as part of its ongoing efforts to improve customer convenience via growth and infrastructure improvements.
The CRM in Kishtwar was officially opened by Deputy Commissioner (Kishtwar) Dr. Devansh Yadav (IAS) in the presence of the bank’s Zonal Head (Doda/Kishtwar) Fayaz Ahmad Bhat and Cluster Head Parvinder Singh in front of a crowd of esteemed clients, locals and bank representatives.
J&K Bank today opened a new branch in Tengpora, Srinagar, for the general public as part of efforts to improve banking convenience for its expanding client base. With the most recent expansion, the Srinagar zone now has 100 branches.
Jammu and Kashmir bank’s stock price target is likely to be very volatile in 2023. As of 21st August, 2023, J&K share price is up 51.94% year to date. This small cap is currently trading at a PE ratio of 6.27. The bank has been posting impressive results for the last few quarters, and the shares are expected to continue increasing.
Looking at J&K Bank’s financial statements for the past five years, we can observe some significant changes in the company’s growth. The total income for FY 2022 was ₹8,803.39 crores, showing a slight decrease of 0.34% compared to the previous year. However, the total income growth rate for FY 2019 was 19.25%, the highest among the past five years. On the other hand, provisions and contingencies have shown a declining trend over the years, with a growth rate of -49.27% in FY 2022 compared to the previous year. The profit after tax (PAT) for FY 2022 was ₹494.85 crores, reflecting a growth of 17.74% compared to the previous year. In contrast, the company incurred a significant loss of ₹1,183.39 crores in FY 2020. Despite the negative growth in the past, the company’s PAT growth has been impressive over the years. J&K Bank’s net interest margin (NIM) and net profit margin (NPM) for FY 2022 were 2.99% and 6.17%, respectively. The basic earnings per share (EPS) for FY 2022 were ₹5.96, showing a slight decline compared to the previous year. Overall, J&K Bank has been on a path of steady growth with some fluctuations in its profits and revenues. While the Price-to-Book ratio has been fluctuating, it is now at 0.84 in May 2023. The Price-to-Earning has increased to Rs 4.89.
resistance level Jammu & Kashmir Bank (J&K Bank), incorporated in Jammu & Kashmir, India, is a publicly held banking company engaged in providing a wide range of banking services including Retail Banking, Corporate Banking & Treasury Operations.
It is the only Private Sector Bank in the country assigned with responsibility of convening State/UT Level Bankers’ Committee (SLBC/UTLBC) meetings.
Key Ratios - Q2 FY23
Capital Adequacy Ratio - 12.86%
Net Interest Margin - 4.04%
Gross NPA - 7.67%
Net NPA - 2.10%
CASA Ratio - 54.69%
Branch Network
At present, the bank has 980+ branches and 1,400+ ATMs. 83% and 89% of all branches and ATMs are located in the state of J&K.