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Jio Financial Services Ltd (NSE: JIOFIN) has taken a major step in strengthening its presence in digital banking by acquiring the remaining 17.83% stake in Jio Payments Bank from the State Bank of India (SBI) for ₹104.5 crore. With this acquisition, Jio Payments Bank is now a wholly-owned subsidiary of Jio Financial, positioning the company for faster innovation and expansion in India’s growing fintech space.
Technical Analysis: Key Support and Resistance Levels
Current Market Performance
- Current Price: ₹222.35
- Trend: Recovering from recent lows, showing early bullish signs
Key Levels to Watch
- Immediate Resistance: ₹231.86
- Major Resistance: ₹254.60
- Immediate Support: ₹199.34
- Major Support: ₹180.00
Outlook: Can Jio Financial Sustain Its Uptrend?
With strong fundamentals, increasing investor confidence, and strategic expansion, Jio Financial is well-positioned for further growth. However, the stock must sustain above ₹231.86 to confirm a breakout. A dip below ₹199.34 could trigger short-term weakness, making the ₹180.00 level crucial for buyers.
Conclusion
Jio Financial’s acquisition of Jio Payments Bank marks a significant milestone in its fintech journey. With full control over its banking operations, the company is now equipped to drive innovation, expand services, and capture market share in India’s rapidly growing digital finance sector. Investors should watch for continued momentum, institutional flows, and upcoming market catalysts that could influence the stock’s next move.