Jupiter Wagons shares zoom 13% to hit one-year high; here's what analysts say

Jupiter Wagons Ltd shares saw a sharp uptick in Thursday's trading session. The stock soared 13.02 per cent to hit a 52-week high of Rs 442.15. It witnessed heavy trading volume today as around 3.19 lakh shares were last seen changing hands on BSE. The figure was way more than the two-week average volume of 96,000 shares. Turnover on the counter came at Rs 13.60 crore, commanding a market capitalisation (m-cap) of Rs 17,839.95 crore.

Technical analysts largely remained positive on the counter. Although, one of them mentioned that the stock looked overbought on charts and suggested booking profits. Immediate support will be at the Rs 420-400 zone. And, resistance could be seen near Rs 450 level.

Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One, said, "The stock has witnessed a strong spurt in price-volume to register fresh highs on charts. The primary trend remains bullish and the counter looks poised to continue its northward trajectory move. On the levels front, Rs 420-400 is likely to provide a cushion in the short term. While on the higher side, Rs 470-480 is very much in the vicinity of the counter."

AR Ramachandran from Tips2trades said, "Jupiter Wagons is bullish but also very overbought on daily charts with next resistance at Rs 486. Investors should keep booking profits as a daily close below support of Rs 404 could lead it to a lower level of Rs 333 in the near term."

Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking, said, "The stock looked strong on daily charts. It may see Rs 450 level in the near term. Keep a strict stop loss at Rs 400"

Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi Shares and Stock Brokers, said, "Support will be at Rs 410 and resistance at Rs 448. A decisive close above Rs 448 level may trigger a further upside till Rs 480. The expected trading range will be between Rs 400 and Rs 490 for a month."

Jupiter Wagons is a provider of comprehensive mobility solutions encompassing rail, road and marine transportation. The company also has a presence in the commercial electric vehicle (CEV) segment.