Jio Financial Shares Crash to Rs 198: Right Time to Buy?

Jio Financial Services (NSE: JIOFIN) has crashed beneath the Rs 200 people connected Monday’s opening bell. It is present trading astatine the Rs 198 people and is attracting bearish sentiments successful the indices. The banal is present good beneath its motorboat terms of 214 erstwhile it archetypal deed the markets successful August 2023. Therefore, everybody who invested successful JIOFIN successful the past 18 months is each nether monolithic losses.

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Source: Google

Sensex and Nifty crashed 350 points and 110 points connected Monday, respectively. The scale is down treble digits successful the past six months and the downturn is apt to proceed arsenic overseas organization investors (FII) exit the Indian markets taking introduction positions successful the US and Chinese stocks. Now that Jio Financial shares are beneath the Rs 200 mark, is this the champion clip to accumulate the stock?

Also Read: Sensex And Nifty Crash: Top 3 Stocks Reach 52 Week Low

When To Buy Jio Financial Shares?

Source: Trade Brains

Taking an introduction presumption successful Jio Financial shares is not advisable arsenic the market’s downturn could continue. Buying JIOFIN present is arsenic bully arsenic catching a falling knife, which is considered a unsafe move. JIOFIN is down astir 43% successful the past six months and could instrumentality galore months to recover. The downturn is speedy but scaling up successful the illustration is the hardest part.

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It is advised to stay connected the sidelines and ticker retired for marketplace movements. The Indian rupee is dipping against the US dollar touching a debased of 87.33. The FII exodus is adding to the load making Jio Financial shares vessel successful the charts. In addition, a Bombay Court has ordered an FIR against SEBI seat Madhavi Puri Buch and 5 different apical executives for alleged banal marketplace fraud and regulatory violations.

The markets are reacting powerfully to these developments and starring stocks could gaffe southbound further. It is champion advised to hold and ticker for further downturns earlier taking an introduction presumption successful Jio Financial shares.