Jio Financial shares zoom 13% in a week. Is it time to ride the momentum?

The shares of Jio Financial Services have rallied 13% in one week to a high of Rs 331.40 on the BSE amid positive investor sentiment. The stock jumped 2.4% in intraday trade.

On Friday, the stock rallied as much as 5.4% on the BSE after announcing that it has been granted a certificate of registration to Jio BlackRock Broking Private Ltd (JBBPL) to operate as a stockbroker and clearing member.

“Please note that the Securities and Exchange Board of India, has granted a certificate of registration dated June 25, 2025 to Jio BlackRock Broking Private Limited (“JBBPL”) to act as a Stock Broker / Clearing Member,” the company had informed in a filing to the stock exchanges.

Technically, the stock is performing well above its significant short, medium and long-term daily exponential moving averages and is oscillating near the 76 mark on the RSI, according to the Trendlyne data.

An RSI above 70 is considered to be overbought.

With this momentum and technical indicators, should you buy the shares of Jio Financial Services now?According to Anand James, Chief Market Strategist at Geojit Financial Services, Jio Financial’s recent upmove appears strong with two consecutive closes above the upper Bollinger Band.However, he suggested that a fresh entry at current levels may not be ideal due to a lack of strong momentum signals from directional indicators.

He suggests that the Rs 321–Rs 323 zone could be considered as a potential exit point for those who entered the stock in June. For investors holding existing positions, he sees scope for a further upmove with a target range of Rs 341–Rs 345, while recommending that stop-losses should not be placed below Rs 314.

Jio Financial share price performance

Over the past one year, the shares of Jio Financial Services have declined by 8.55%, while on a year-to-date (YTD) basis, it has gained 7.55%. In the last six months, the stock has risen 6.99%, and over the past three months, it has registered a sharp gain of 44.02%. For the one-month period, the stock has advanced 14.25%.

Around 10:05 am, the stock was trading 1.3% higher at Rs 327.75 on the BSE.

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)