PC Jeweller shares climb over 6%; pullback or trend reversal?

Shares of PC Jeweller Ltd surged 6.34 per cent on Wednesday to settle at Rs 10.90. Despite the sharp single-day rise, the stock has declined 41.71 per cent over the past six months.

The Delhi-based jewellery retailer recently told exchanges that it reduced its outstanding borrowings by about 68 per cent in the December 2025 quarter. Quarterly revenue increased roughly 37 per cent year-on-year (YoY), aided by stronger demand during the ongoing festive and wedding season.

From a technical standpoint, some analysts flag immediate resistance in the Rs 11.5–12 zone, noting that a sustained breakout could pave the way for further gains towards Rs 12.4 and even Rs 13–15. However, one analyst cautioned that the broader trend is still weak, describing the move as a pullback rather than a confirmed reversal, with key supports seen around Rs 9.5–10.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said PC Jeweller has bounced back from oversold levels and moved above its 20- and 50-day exponential moving averages, thereby negating the earlier lower-high structure. He noted that the stock is now hovering around a key resistance band of Rs 11.50–12, and sustained buying above this zone could open the door for a potential move towards Rs 13–15 in the coming sessions. On the downside, he added that the bullish gap near Rs 9.75 is expected to act as a cushion against any short-term corrections.

Drumil Vithlani, Technical Analyst at Bonanza, observed that PC Jeweller is showing initial signs of a technical pullback after a prolonged downtrend. According to him, the stock has rebounded from the Rs 9–9.5 support zone, forming a short-term higher low. He highlighted that prices have crossed above short-term moving averages, accompanied by improving volumes, which signals fresh buying interest at lower levels.

However, Vithlani cautioned that the broader trend remains weak as the stock continues to trade below its long-term moving averages, suggesting this move is more of a pullback than a confirmed trend reversal. Immediate resistance, he said, is placed at Rs 11.5–12, while support is seen near Rs 9.5. The outlook remains cautiously positive for high-risk traders with strict stop losses, while positional confirmation would require sustained trade above Rs 12.

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support for the stock is placed at Rs 10, while resistance is seen at Rs 11.37. He added that a decisive breakout above Rs 11.37 could lead to further upside towards Rs 12.4, with the stock likely to trade in a range of Rs 10–12.4 in the near term.

As of September 2025, promoters held a 37.60 per cent stake in the company.