Power generationHistorical case study · data as of 14 Jul 2026 · published 17 Oct 2026 (95 days later)
JSW Energy — 100-point case study
How JSW Energy looked on 50 technical and 50 fundamental measures on 14 Jul 2026 — and what happened over the next three months. Education only; not a current view.
Codes
NSE: JSWENERGY · BSE: 533148
Close on 14 Jul 2026
₹557.25
Market cap then
₹1,01,863 crore
Valuation
P/E 36.9× · P/B 3.31×
Momentum
RSI (14) 49 · 1-year return +5.0%
Next 3 months
-14.1% vs Nifty 50 -4.4% (to 15 Oct 2026)
Scorecard
Technical — 50 points
10 bullish · 27 neutral · 0 caution · 12 bearish — the picture was mixed.
Fundamental — 50 points
11 bullish · 25 neutral · 4 caution · 9 bearish — the picture was mixed.
Price chart
Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance
Data note: The company raised fresh equity via a QIP in Apr–Jun 2026, which changes per-share figures. Profit shown is consolidated; profit attributable to shareholders is lower.
Technical analysis — 50 points
Calculated by code from daily prices up to 14 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).
How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →
A. Trend
#
Point
Reading
Tag
Commentary
1
Short-term trend (20 days)
slope -0.31%/day
Bearish
Over the last 20 sessions the regression line of closing prices was falling about 0.31% a day — a short-term downtrend.
Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2
Medium-term trend (~5 months)
3M return +14.0%
Bullish
The 100-session trend line was up (+0.20%/day) and the stock was +14.0% over three months, so the medium-term picture was bullish.
Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3
Long-term trend (1 year)
1Y return +5.0%
Neutral
Compared with a year earlier the price was +5.0%. Little net progress over twelve months.
Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4
Weekly chart trend
10W 560.94 / 30W 521.26
Neutral
On the weekly chart the stock showed a weekly close tangled between the 10-week and 30-week averages.
Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5
Swing structure (highs/lows)
last highs 617.35→592.00; lows 505.20→548.30
Neutral
The two most recent swing points showed a lower high but a higher low — mixed structure.
Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6
ADX (14) — trend strength
13.6
Neutral
ADX at 13.6 signals a weak or absent trend (below 20) — range-bound conditions. ADX measures strength only, not direction.
Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7
+DI vs –DI
+DI 17.5 / –DI 19.0
Bearish
–DI was above +DI: sellers had the upper hand in directional movement.
Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.
B. Moving averages
#
Point
Reading
Tag
Commentary
8
Price vs 20-day SMA
562.96 (-1.0%)
Bearish
Close of 557.25 was 1.0% below the 20-day SMA — the short-term trend filter was negative.
Bullish close above the average · Bearish close below the average · No neutral zone.
9
Price vs 50-day SMA
560.91 (-0.7%)
Bearish
Close of 557.25 was 0.7% below the 50-day SMA — the medium-term trend filter was negative.
Bullish close above the average · Bearish close below the average · No neutral zone.
10
Price vs 200-day SMA
517.86 (+7.6%)
Bullish
Close of 557.25 was 7.6% above the 200-day SMA — the long-term trend filter was positive.
Bullish close above the average · Bearish close below the average · No neutral zone.
11
9 / 21 EMA crossover
9E 553.10 / 21E 558.55
Bearish
The 9-day EMA was below the 21-day EMA; the last crossover happened on 03 Jul 2026.
The 50-day average was 8.3% above the 200-day. The most recent signal was a golden cross on 05 May 2026.
Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13
50-day SMA slope
+2.5% in 20 sessions
Bullish
The 50-day average rose 2.5% over the past month — rising.
Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14
MA ribbon alignment
563 / 561 / 533 / 518
Bullish
The 20/50/100/200-day averages were perfectly stacked bullish (20 > 50 > 100 > 200).
Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15
Monthly anchored VWAP
552.16 (+0.9%)
Bullish
Anchored to the start of July, the volume-weighted average price was 552.16; the close was above it — buyers that month were on average in profit.
Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.
C. Momentum
#
Point
Reading
Tag
Commentary
16
RSI (14)
49.0
Neutral
RSI at 49.0 was in the neutral 45–55 zone.
Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17
RSI divergence (last 40 days)
none
Neutral
Comparing the last 20 sessions with the 20 before: no divergence — RSI moved in line with price.
Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18
MACD line vs signal
MACD -4.30 / signal -2.36
Bearish
MACD was below its signal line — momentum turning or staying negative.
Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19
MACD histogram (5-day change)
-5.00 → -1.95
Bullish
The histogram rose over the last five sessions, meaning momentum was improving.
Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.
D. Volatility
#
Point
Reading
Tag
Commentary
25
Bollinger Band position (%B)
%B 0.41 (bands 532.37–593.56)
Neutral
%B of 0.41 — inside the bands, lower half.
How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26
Bollinger width / squeeze
width 10.9% (33rd pct of 6M)
Neutral
Band width was at the 33rd percentile of the last six months, a normal level.
How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27
ATR (14)
₹15.98 (2.9% of price)
Neutral
A typical day's range was about ₹15.98, or 2.9% of the price — useful for judging how much 'normal noise' to expect.
How to read: Information only. A higher % means bigger normal daily swings.
28
Historical volatility (30-day)
24.7% vs 1Y 29.5%
Neutral
Annualised 30-day volatility was 24.7%, close to the one-year level of 29.5%.
How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29
Keltner Channel (20, 2×ATR)
527.10–589.52
Neutral
The close was inside the channel, so no volatility breakout.
Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30
Beta vs Nifty 50 (1Y daily)
0.98
Neutral
A beta of 0.98 means the stock tended to move roughly in line with the Nifty 50 day to day.
How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.
E. Volume & money flow
#
Point
Reading
Tag
Commentary
31
Volume vs 20-day average
last day 0.97× / 5-day 0.85×
Neutral
The final session traded 0.97× its 20-day average volume and the last five sessions averaged 0.85× — normal participation.
How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32
Up-day vs down-day volume (20d)
ratio 1.10
Neutral
Average volume on up days was 1.10× that on down days — balanced.
Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33
On-Balance Volume (20d)
OBV falling
Bearish
OBV fell over the month while price fell — volume confirmed the price move.
About ₹165 crore changed hands per day on average over 20 sessions — liquid.
How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.
F. Price levels
#
Point
Reading
Tag
Commentary
38
Support levels (S1/S2/S3)
548.30 / 533.32 / 511.35
Neutral
Nearest support (prior swing lows) sat at 548.30, 1.6% below the close, then 533.32, 511.35.
How to read: Information only. Levels to watch, not good or bad.
39
Resistance levels (R1/R2/R3)
585.73 / 617.35
Neutral
Nearest resistance (prior swing highs) sat at 585.73, 5.1% above the close, then 617.35.
How to read: Information only.
40
Monthly pivot points (for next month)
P 558.00 | R1 584.50 | S1 530.75
Neutral
Classic pivots from July's high/low/close gave a pivot of 558.00; the close was below it.
How to read: Information only.
41
Fibonacci retracement (6M swing)
23.6% 573 | 38.2% 545 | 50.0% 523 | 61.8% 500
Neutral
Measuring the 6-month rise from 427.75 to 617.35, the close was nearest the 38.2% retracement at 544.92.
How to read: Information only.
42
52-week high / low
H 617.35 / L 427.75
Neutral
The close was 9.7% below the 52-week high and 30.3% above the 52-week low.
Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43
Unfilled price gaps (6M)
none
Neutral
No unfilled price gaps in the last six months.
How to read: Information only.
G. Patterns
#
Point
Reading
Tag
Commentary
44
Price structure / chart pattern
pullback inside a larger uptrend
Neutral
Rule-based pattern scan: pullback inside a larger uptrend. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.)
Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45
Breakout / breakdown (20-day)
range 531.50–592.00
Neutral
The close was inside the prior 20-day range of 531.50–592.00.
Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46
Latest candlestick
Doji
Neutral
On 14 Jul the candle opened 557.00, ranged 550.65–564.00 and closed 557.25: Doji — indecision. Single candles are weak signals on their own.
Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47
Ichimoku Cloud
cloud 541.83–572.89; Tenkan 551.75 / Kijun 561.75
Neutral
Price was inside the cloud and the Tenkan line was below the Kijun line — an undecided Ichimoku setup.
Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.
H. Relative strength & summary
#
Point
Reading
Tag
Commentary
48
Relative strength vs Nifty 50
1M -2.2% / 3M +14.0%
Bullish
The stock outperformed the Nifty 50 by 14.0 points over three months and underperformed by 2.2 points over one month.
Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49
Relative strength vs Nifty 50 (6M)
6M +16.2%
Bullish
No sector index in today's data set, so we show the 6-month comparison instead: 16.2 points ahead of the Nifty 50.
Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50
Technical summary
10 bullish · 12 bearish · 27 neutral · 0 caution
Neutral
Across the 49 readings the technical picture was mixed. Levels that mattered: support 548.30, resistance 585.73. This is a description of the chart on 14 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell.
Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.
Fundamental analysis — 50 points
Uses only results published by 14 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Mar 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 14 Jul 2026 close.
How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →
A. Valuation
#
Point
Reading
Tag
Commentary
1
P/E (trailing 12 months)
36.9×
Neutral
At ₹557.25 the market valued the company at about ₹1,01,863 crore, or 36.9× the ₹2,763 crore profit of the four quarters to Mar 2026. That is a premium multiple — the market expected growth.
How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2
Price / Book
3.31×
Neutral
Market cap was 3.31× the Mar 2026 book value (equity + reserves) of ₹30,751 crore.
How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3
Price / Sales
5.39×
Neutral
The company was valued at 5.39× its trailing-12-month sales of ₹18,901 crore.
How to read: Information only.
4
EV / EBITDA (approx.)
17.8×
Neutral
Enterprise value (market cap + ₹76,946 cr borrowings; cash not netted) was 17.8× trailing operating profit of ₹10,065 crore.
How to read: Information only. Lower means cheaper relative to operating profit.
5
Earnings yield
2.7%
Neutral
The inverse of P/E: each ₹100 invested bought about ₹2.7 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds.
How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6
PEG (P/E ÷ 3-yr profit CAGR)
1.59
Neutral
P/E of 36.9 divided by 3-year profit growth of 23.1% a year gives a PEG of 1.59. Below 1 is often read as growth being cheaply priced; above 2 as expensive. Note: revenue jumped more than 40% in Mar 2026, which usually signals a merger or acquisition — multi-year growth rates are inflated by it.
Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7
Dividend yield (trailing 12M)
0.36%
Neutral
Dividends with ex-dates in the 12 months to the snapshot totalled ₹2 a share, a 0.36% yield on the ₹557.25 price.
Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8
Market capitalisation
₹1,01,863 cr
Neutral
At about ₹1.02 lakh crore the company was a large-cap.
How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9
Graham number vs price
₹239.19 vs ₹557.25
Neutral
Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹239.19; the price was 133% above it. Quality franchises usually trade above this number.
Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).
B. Growth
#
Point
Reading
Tag
Commentary
10
Revenue growth FY26 (YoY)
+60.9%
Bullish
Revenue for FY26 was ₹18,901 crore, +60.9% versus FY25.
Revenue compounded at 22.3% a year from FY23 to FY26. Note: revenue jumped more than 40% in Mar 2026, which usually signals a merger or acquisition — multi-year growth rates are inflated by it.
Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15
Profit CAGR (3 years)
23.1%
Caution
Net profit compounded at 23.1% a year from FY23 to FY26. Note: revenue jumped more than 40% in Mar 2026, which usually signals a merger or acquisition — multi-year growth rates are inflated by it.
Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16
Revenue CAGR (5 years)
22.3%
Caution
Over five years (FY21–FY26) revenue compounded at 22.3% a year. Note: revenue jumped more than 40% in Mar 2026, which usually signals a merger or acquisition — multi-year growth rates are inflated by it.
Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17
EPS growth FY26 (reported)
+14.2%
Bullish
Reported EPS went from ₹11.16 to ₹12.74 (+14.2%). Differences from profit growth come from changes in share count (bonus, buyback, new issues).
Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49
Automated screen flags
3 strength(s) · 5 weakness(es)
Neutral
Strengths: Company is expected to give good quarter; Company has delivered good profit growth of 23.0% CAGR over last 5 years; Company has been maintaining a healthy dividend payout of 17.5%. Weaknesses: Stock is trading at 2.76 times its book value; Company has low interest coverage ratio; Promoter holding has decreased over last quarter: -2.88%; Tax rate seems low; Company has a low return on equity of 7.72% over last 3 years. (Flags generated by the data source’s rule screen.)
How to read: Information only.
50
Fundamental summary
11 bullish · 9 bearish · 25 neutral · 4 caution
Neutral
On the numbers published by 14 Jul 2026 the fundamental picture was mixed. Valuation: P/E 36.9×, P/B 3.31×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell.
Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.
News in the three months before the snapshot
Company news from 14 Apr 2026 – 14 Jul 2026 that an investor could have known on the snapshot date.
11 May 2026JSW Energy board approves Q4 FY26 results and recommends Rs 2 dividend — Q4 FY26 consolidated revenue was Rs 4,499 crore, up 41% YoY, and EBITDA was Rs 2,250 crore. FY26 EBITDA was a record, up 81% YoY. The board recommended a Rs 2 per share dividend with record date June 5, 2026, and the company targets 30 GW of capacity by FY30. source
12 May 2026JSW Energy shares fall after Q4 FY26 results — Shares fell more than 6% intraday on the Tuesday after the results. Reports differ on Q4 net profit: Kotak Neo cites Rs 372 crore (down 9% YoY), while the consolidated figure elsewhere is Rs 574 crore (up 38% YoY). source
18 May 2026JSW Energy sells about 1.02% stake in JSW Steel via bulk deal — JSW Energy sold 25 million JSW Steel shares in a bulk deal on BSE and NSE, cutting its holding from 2.86% to 1.84%. source
08 Jun 2026JSW Energy commissions wind blade manufacturing plant in Gujarat — The plant at Halol, Gujarat can make up to 450 blades a year, enough for about 600 MW of wind projects. source
13 Jun 2026JSW Energy agrees to acquire Maruti Clean Coal and Power for about Rs 1,410 crore EV — JSW Energy signed a definitive agreement to buy 100% of the owner of a 300 MW thermal plant in Korba, Chhattisgarh. The plant has a 195 MW long-term PPA with Rajasthan utilities. source
16 Jun 2026JSW Energy annual report shows FY26 PAT of Rs 2,762 crore — The FY26 annual report gives consolidated PAT of Rs 2,762 crore, EBITDA of Rs 11,041 crore and installed capacity of 13.45 GW. source
What happened next (14 Jul 2026 → 15 Oct 2026)
Price went from ₹557.25 to ₹478.95 by 15 Oct 2026 (-14.1%) while the Nifty 50 moved -4.4% — underperforming by 9.7 points.
Highest ₹583.40 on 11 Aug 2026; lowest ₹457.50 on 13 Oct 2026.
S1 548.30: broken on a closing basis on 16 Jul 2026.
S2 533.32: broken on a closing basis on 31 Aug 2026.
R1 585.73: not cleared on a closing basis.
R2 617.35: not cleared on a closing basis.
200-day SMA: price was above it at the snapshot and crossed below on 31 Aug 2026.
Apr–Jun 2026 results (reported 22 Jul 2026): revenue ₹5,207 crore (+1.2% YoY), net profit ₹533 crore (-36.2% YoY), operating margin 55% vs 54% a year earlier (Screener consolidated figures).
Later news
20 Jul 2026JSW Energy shareholders approve scheme of arrangement with GE Power India — At NCLT-convened meetings, equity shareholders and unsecured creditors approved the proposed scheme of arrangement with GE Power India. source
22 Jul 2026JSW Energy reports Q1 FY27 results — Q1 FY27 revenue from operations was Rs 5,207 crore, up 1.2% YoY, and EBITDA was Rs 2,873 crore. Consolidated PAT was Rs 533 crore; Kotak Neo reports profit attributable to owners of Rs 471 crore, down 37% YoY, as finance costs rose. The company also raised Rs 4,000 crore through a QIP. source
07 Aug 2026JSW Energy completes acquisition of Maruti Clean Coal and Power — The 300 MW Korba thermal plant became a wholly owned subsidiary, taking installed capacity to 14,920 MW, with renewables at 60%. source
04 Sep 2026JSW Energy crosses 15 GW operational capacity — Operational capacity reached 15,025 MW after 1,572 MW of additions since April 2026. Locked-in generation capacity is 32.4 GW. source
Educational summary. On 14 Jul 2026 the technical picture was mixed and the fundamental picture was mixed. Over the next three months the stock moved -14.1% against -4.4% for the Nifty 50. A mixed chart gave no clear message, and the outcome shows why mixed readings are hard to act on. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold JSW Energy today.
Method designed by Pawan Kumar Sharma, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.
Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 17 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction