Just Dial Shares: Technicals Weak, But SEBI Analyst Eyes Bounce-Back Triggers From Reliance Integration

Stock has fallen 6% in a month and remains in a downtrend, with analysts flagging short-term weakness unless it sustains above ₹850.

Just Dial shares have fallen 6% in the last month and appeared to be in a downtrend. Technical indicators suggest that short-term weakness is likely to persist unless the stock sustains above ₹850.

SEBI-registered analyst Deepak Pal identified immediate support at ₹810 – ₹800, followed by ₹770. Immediate resistance is seen at ₹850 – ₹870, and the next resistance is at ₹920. The stock has consistently been making lower highs & lower lows. 

Its relative strength index (RSI) stands at 39, near the oversold zone, indicating weakness but possible bounce from support. The Moving Average Convergence Divergence (MACD) was negative, indicating further selling pressure. It traded below key 20,50, and 100-day Exponential Moving Averages (EMAs). 

Fundamental Watch

The company, now a part of Reliance Retail (via Jio Platforms), is focusing on strengthening its digital business and SME listings. Pal noted that its strong cash reserves and debt-free balance sheet provide comfort; however, competition from new-age platforms impacts growth visibility. 

He added that the integration with Reliance’s ecosystem (JioMart, Reliance Retail) is expected to boost long-term positioning. Any new strategic product launch or partnership announcement may re-rate valuations. 

Pal suggested that investors keep an eye on upcoming quarterly results for revenue growth and margin commentary. Policy changes in digital advertising or new competitors may create volatility. 

What Should Investors Do?

In the short term, Pal maintains a cautious outlook. He said that a possible bounce from ₹800 support is likely, but it may face resistance at ₹850–870. In the medium-term, if Just Dial sustains above ₹870, it may open the way for ₹920–950. And over the long term, its cash-rich status, digital growth story, and backing from Reliance make it a positive bet for investors.

What Is The Retail Mood?

Data on Stocktwits shows that retail sentiment turned ‘bullish’ on this counter a day ago. 

Just Dial shares have declined 16% so far this year. 

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