Just Dial shares skyrocket 13% as volume soars massively 115 times - More returns ahead or something else? Experts view

Just Dial shares surged as much as 13% in intraday trade on the BSE on Monday, 19 October, with a strong spurt in volume. Just Dial share price opened at ₹716.45 against its previous close of ₹712.45 and jumped 12.6% to an intraday high of ₹802, with volume soaring massively by 115 times.

Just Dial share price trend

The stock has surged nearly 40% over the last 6 months. It hit a 52-week high of ₹838 on 15 July and a 52-week low of ₹486.05 on 30 March this year.

On a monthly scale, the stock is up 12% so far in October, looking set to snap its two-month losing run.

Just Dial shares: More returns ahead

Experts underscore that Just Dial shares have entered a short-term uptrend with the formation of higher highs and higher lows.

Aditya Thukral, founder and analyst at AT Research and Risk Managers, highlighted that the stock is in a short-term uptrend, but the long-term structures have been corrective in nature, and the stock will continue to behave sideways over the long run within its all-time high and all-time low.

Thukral believes that though the moves have been corrective, a break above the recent high of ₹838.30 could take the stock towards ₹960 and ₹1,050. On the other hand, a break below ₹620 would extend the correction, and the stock could go towards support at ₹525.

"The stock has been in a short-term uptrend, and a break above ₹838.30 could extend its upward move towards ₹960 and ₹1,050. However, the stock is sideways from the long-term perspective, and exiting longs near long-term resistance would be a wise choice," said Thukral.

Vipin Kumar, AVP-Research at Globe Capital Market, said Just Dial has formed a higher low and is also trading above its key long-term as well as short-term moving averages on charts.

"Going ahead, a decisive close above ₹840 will be a positive development that could lead it towards ₹950 in the near term," said Kumar.

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