Kalyan Jewellers share price jumps 6% following relief rally on Dalal Street. More upside possible?
Trading activity was robust, with around 1 crore equity shares of Kalyan Jewellers India changing hands across stock exchanges — significantly higher than the one-month average volume of 60 lakh shares.
Last week, Kalyan Jewellers reported a 49% year-on-year (YoY) rise in consolidated net profit for the first quarter of FY26 to ₹ 264 crore, compared with ₹ 178 crore in the same period last year.
The company's revenue from operations in Q1FY26 grew 31% to ₹ 7,268 crore from ₹ 5,528 crore in the corresponding quarter of the previous fiscal. After the Q1 results, Kalyan Jewellers share price had slumped over 10% in a single session on August 8.
Kalyan Jewellers share price witnessed a sharp negative reaction, forming a lower high on the charts — a clear sign of waning bullish momentum, noted Anshul Jain, Head of Research at Lakshmishree Investments.
'The price structure now favors sellers, and any rally toward the ₹ 575 zone should be viewed as a fresh selling opportunity. A breakdown from current levels is likely to accelerate downside momentum, with ₹ 400 and lower emerging as probable targets in the near term,' Jain said.
According to him, unless Kalyan Jewellers share price reclaims key resistance levels with strong volumes, the broader bias remains bearish.
Kalyan Jewellers share price has fallen 8% in one month, but has rallied 11% in six months. The stock is down 30% on a year-to-date (YTD) basis, and has dropped 5% in one year. However, in the long run, Kalyan Jewellers share price has delivered stellar returns. The stock has jumped 60% in two years and has generated multibagger returns of 675% in three years.
At 1:45 PM, Kalyan Kewellers share price was trading 4.64% higher at ₹ 539.50 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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