Ports & logisticsHistorical case study · data as of 14 Jul 2026 · published 17 Oct 2026 (95 days later)
JSW Infrastructure — 100-point case study
How JSW Infrastructure 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.
Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance
Data note: A QIP plus promoter offer-for-sale closed in June 2026, diluting equity and cutting promoter holding to 73.93% — per-share figures across that date are not directly comparable.
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 +0.58%/day
Bullish
Over the last 20 sessions the regression line of closing prices was rising about 0.58% a day — a short-term uptrend.
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 +30.6%
Bullish
The 100-session trend line was up (+0.27%/day) and the stock was +30.6% 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 +9.6%
Neutral
Compared with a year earlier the price was +9.6%. 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 302.75 / 30W 276.76
Bullish
On the weekly chart the stock showed a weekly close above a rising 10-week and 30-week average stack.
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 284.75→343.45; lows 256.00→266.55
Bullish
The two most recent swing points showed higher swing highs and higher swing lows — classic uptrend 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
35.5
Bullish
ADX at 35.5 shows a strong trend in force. 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 38.5 / –DI 12.8
Bullish
+DI was above –DI: upward price pressure outweighed downward pressure.
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
321.99 (+7.8%)
Bullish
Close of 347.25 was 7.8% above the 20-day SMA — the short-term trend filter was positive.
Bullish close above the average · Bearish close below the average · No neutral zone.
9
Price vs 50-day SMA
293.98 (+18.1%)
Bullish
Close of 347.25 was 18.1% above the 50-day SMA — the medium-term trend filter was positive.
Bullish close above the average · Bearish close below the average · No neutral zone.
10
Price vs 200-day SMA
280.45 (+23.8%)
Bullish
Close of 347.25 was 23.8% 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 332.37 / 21E 320.06
Bullish
The 9-day EMA was above the 21-day EMA; the last crossover happened on 25 May 2026.
The 50-day average was 4.8% above the 200-day. The most recent signal was a golden cross on 24 Jun 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
+8.2% in 20 sessions
Bullish
The 50-day average rose 8.2% 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
322 / 294 / 277 / 280
Neutral
The 20/50/100/200-day averages were tangled — no clean order, typical of a transition or range.
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
334.14 (+3.9%)
Bullish
Anchored to the start of July, the volume-weighted average price was 334.14; 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)
68.7
Bullish
RSI at 68.7 showed positive momentum without being overbought.
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 13.25 / signal 12.14
Bullish
MACD was above its signal line — momentum turning or staying positive.
Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19
MACD histogram (5-day change)
-0.98 → 1.11
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 0.93 (bands 292.81–351.18)
Neutral
%B of 0.93 — inside the bands, upper 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 18.1% (79th pct of 6M)
Neutral
Band width was at the 79th 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)
₹11.55 (3.3% of price)
Neutral
A typical day's range was about ₹11.55, or 3.3% 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)
43.3% vs 1Y 30.6%
Caution
Annualised 30-day volatility was 43.3%, well above the one-year level of 30.6%.
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)
297.06–344.90
Bullish
The close was above the upper channel — a strong trending push.
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)
1.24
Neutral
A beta of 1.24 means the stock tended to move more than 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 0.63× / 5-day 0.86×
Neutral
The final session traded 0.63× its 20-day average volume and the last five sessions averaged 0.86× — 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 2.63
Bullish
Average volume on up days was 2.63× that on down days — accumulation-leaning.
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 rising
Bullish
OBV rose over the month while price rose — volume confirmed the price move.
About ₹223 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)
311.80 / 298.51 / 277.35
Neutral
Nearest support (prior swing lows) sat at 311.80, 11.4% below the close, then 298.51, 277.35.
How to read: Information only. Levels to watch, not good or bad.
39
Resistance levels (R1/R2/R3)
349.00
Neutral
Nearest resistance (prior swing highs) sat at 349.00, 0.5% above the close.
How to read: Information only.
40
Monthly pivot points (for next month)
P 338.28 | R1 364.77 | S1 320.77
Neutral
Classic pivots from July's high/low/close gave a pivot of 338.28; the close was above it.
How to read: Information only.
41
Fibonacci retracement (6M swing)
23.6% 327 | 38.2% 309 | 50.0% 295 | 61.8% 280
Neutral
Measuring the 6-month rise from 233.42 to 355.80, the close was nearest the 23.6% retracement at 326.92.
How to read: Information only.
42
52-week high / low
H 355.80 / L 233.42
Bullish
The close was 2.4% below the 52-week high and 48.8% 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)
1 open; latest gap-up 08 Apr at 239.36
Neutral
There was 1 unfilled gap(s). The latest, a gap-up on 08 Apr 2026, left an open level at 239.36 that price had not revisited.
How to read: Information only.
G. Patterns
#
Point
Reading
Tag
Commentary
44
Price structure / chart pattern
rising channel
Bullish
Rule-based pattern scan: rising channel — successive higher highs and lows. (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 290.60–355.80
Neutral
The close was inside the prior 20-day range of 290.60–355.80.
Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46
Latest candlestick
Inside bar
Neutral
On 14 Jul the candle opened 350.95, ranged 340.60–350.95 and closed 347.25: Inside bar — range contraction. 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 264.61–275.77; Tenkan 333.80 / Kijun 311.43
Bullish
Price was above the cloud and the Tenkan line was above the Kijun line — a bullish 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 +17.5% / 3M +30.5%
Bullish
The stock outperformed the Nifty 50 by 30.5 points over three months and outperformed by 17.5 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 +31.6%
Bullish
No sector index in today's data set, so we show the 6-month comparison instead: 31.6 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
31 bullish · 0 bearish · 16 neutral · 2 caution
Bullish
Across the 49 readings the technical picture leaned positive. Levels that mattered: support 311.80, resistance 349.00. 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)
52.4×
Neutral
At ₹347.25 the market valued the company at about ₹81,054 crore, or 52.4× the ₹1,548 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
7.45×
Neutral
Market cap was 7.45× the Mar 2026 book value (equity + reserves) of ₹10,877 crore.
How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3
Price / Sales
15.12×
Neutral
The company was valued at 15.12× its trailing-12-month sales of ₹5,362 crore.
How to read: Information only.
4
EV / EBITDA (approx.)
33.8×
Neutral
Enterprise value (market cap + ₹6,899 cr borrowings; cash not netted) was 33.8× trailing operating profit of ₹2,604 crore.
How to read: Information only. Lower means cheaper relative to operating profit.
5
Earnings yield
1.9%
Neutral
The inverse of P/E: each ₹100 invested bought about ₹1.9 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)
1.92
Neutral
P/E of 52.4 divided by 3-year profit growth of 27.3% a year gives a PEG of 1.92. Below 1 is often read as growth being cheaply priced; above 2 as expensive. Note: revenue jumped more than 40% in Mar 2023, 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)
0.26%
Neutral
Dividends with ex-dates in the 12 months to the snapshot totalled ₹0.9 a share, a 0.26% yield on the ₹347.25 price.
Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8
Market capitalisation
₹81,054 cr
Neutral
At about ₹0.81 lakh crore the company was a mid-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
₹83.39 vs ₹347.25
Neutral
Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹83.39; the price was 316% 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)
+19.8%
Bullish
Revenue for FY26 was ₹5,361 crore, +19.8% versus FY25.
Revenue compounded at 18.8% a year from FY23 to FY26. Note: revenue jumped more than 40% in Mar 2023, 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)
27.3%
Caution
Net profit compounded at 27.3% a year from FY23 to FY26. Note: revenue jumped more than 40% in Mar 2023, 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)
27.3%
Caution
Over five years (FY21–FY26) revenue compounded at 27.3% a year. Note: revenue jumped more than 40% in Mar 2023, 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)
+1.3%
Neutral
Reported EPS went from ₹7.16 to ₹7.25 (+1.3%). 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
2 strength(s) · 2 weakness(es)
Neutral
Strengths: Company has delivered good profit growth of 40% CAGR over last 5 years (paraphrased by fetch tool); Company has reduced working capital requirements from 18 days to 10.5 days (paraphrased by fetch tool). Weaknesses: Stock is trading at 6.6 times its book value; Company might be capitalizing the interest cost. (Flags generated by the data source’s rule screen.)
How to read: Information only.
50
Fundamental summary
8 bullish · 4 bearish · 34 neutral · 3 caution
Bullish
On the numbers published by 14 Jul 2026 the fundamental picture leaned positive. Valuation: P/E 52.4×, P/B 7.45×. 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.
08 May 2026JSW Infrastructure reports Q4 FY26 results — Consolidated Q4 FY26 revenue of Rs 1,522 crore (+18.6% YoY) and net profit of Rs 423 crore (-17.8% YoY); FY26 revenue Rs 5,361 crore and net profit Rs 1,546 crore. Board recommended a dividend of Rs 0.90 per share. source
11 May 2026JSW Infrastructure investor presentation sets out 400 MTPA capacity target by FY2030 — FY26 operating EBITDA of Rs 2,604 crore on 122 million tonnes of cargo; net debt to operating EBITDA of 1.2x; plan to expand port capacity from 183 to 400 MTPA by FY2030 with greenfield ports and logistics expansion. source
23 Jun 2026JSW Infrastructure launches QIP with floor price of Rs 290.35 — The QIP combined a fresh issue of up to 23 crore shares and an offer for sale of up to 3.33 crore shares by promoter Sajjan Jindal Family Trust. Shareholders had approved the fundraise by postal ballot on 23 March 2026. source
24 Jun 2026JSW Infrastructure shares rise during QIP week — The stock rose about 11% over the week and 20% over the month as the QIP opened; the report also noted dilution and execution risks alongside the company's FY27 guidance of Rs 6,850 crore revenue and Rs 3,000 crore EBITDA. source
26 Jun 2026JSW Infrastructure closes Rs 7,503 crore QIP and OFS at Rs 285 per share — About Rs 6,555 crore of fresh capital raised from 23 crore new shares and about Rs 948 crore via the promoter OFS, priced at Rs 285, a 1.84% discount to the floor price. source
03 Jul 2026Sajjan Jindal Family Trust holding falls to 73.93% after OFS — Disclosure shows the promoter trust sold 3,32,52,427 shares at Rs 285 alongside the fresh issue to help meet minimum public shareholding norms; its holding fell from 83.62% to 73.93%. source
What happened next (14 Jul 2026 → 16 Oct 2026)
Price went from ₹347.25 to ₹340.10 by 16 Oct 2026 (-2.1%) while the Nifty 50 moved -3.8% — outperforming by 1.7 points.
Highest ₹375.50 on 22 Sep 2026; lowest ₹310.10 on 30 Jul 2026.
S1 311.80: held on a closing basis.
S2 298.51: held on a closing basis.
R1 349.00: cleared on a closing basis on 21 Sep 2026.
200-day SMA: price was above it at the snapshot and stayed on the same side through the period.
Apr–Jun 2026 results (reported 21 Jul 2026): revenue ₹1,445 crore (+18.1% YoY), net profit ₹358 crore (-8.2% YoY), operating margin 47% vs 47% a year earlier (Screener consolidated figures).
Later news
21 Jul 2026JSW Infrastructure reports Q1 FY27 results — Revenue from operations of Rs 1,445 crore (+18% YoY), operational EBITDA of Rs 674 crore (+16%), PAT of Rs 358 crore versus Rs 390 crore a year earlier; cargo volumes of 31 million tonnes (+6%). FY27 guidance of Rs 6,850 crore revenue and Rs 3,000 crore EBITDA reiterated. source
10 Sep 2026JSW Infrastructure completes acquisition of NCR Rail Infrastructure for Rs 467.47 crore — Acquisition of the Khurja (UP) private freight terminal operator completed under an IBC resolution plan through a step-down subsidiary; separately about 39.57 acres of land bought from Arshiya for Rs 41.94 crore. source
22 Sep 2026CARE upgrades subsidiary South West Port's long-term rating to AA — CARE Ratings upgraded South West Port Limited's long-term bank facilities from CARE AA- to CARE AA (Stable) and reaffirmed JSW Infrastructure's issuer rating at CARE AA+ (Stable). source
Educational summary. On 14 Jul 2026 the technical picture leaned positive and the fundamental picture leaned positive. Over the next three months the stock moved -2.1% against -3.8% for the Nifty 50. Here the chart's message did not line up neatly with what followed — a reminder that indicators describe the past, not the future. 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 Infrastructure 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