Cochin Shipyard- break out candidate
Updated
The Stock is in consolidation range form Dec 22. On the last trading date, it had broken the range (580) with volume but closed with in the range. The CMP is 579.15. The stock has tested the upper range thrice in the last week.
RSI bullish, but not over bought
Short Term EMAs cross over longer term EMAs and is raising.
MACD above signal line and is mildly bullish
The Company has also reported bagging orders worth ~INR 5.8B to be delivered thru Mar 2026. Further the company is likely to monetize the entire Aircraft carrier revenue in FY 24 and FY 25
if the stock breaks once again above 583 on closure basis we could see levels of 624/687/793.
I have added the stock to my watch list and the idea will be to go long above 583 with SL at 560.
Note
I am not SEBI registered IA. This is my outlook of the stock and is not an inite to trade /invest. please do your own due diligence before investing.
RSI bullish, but not over bought
Short Term EMAs cross over longer term EMAs and is raising.
MACD above signal line and is mildly bullish
The Company has also reported bagging orders worth ~INR 5.8B to be delivered thru Mar 2026. Further the company is likely to monetize the entire Aircraft carrier revenue in FY 24 and FY 25
if the stock breaks once again above 583 on closure basis we could see levels of 624/687/793.
I have added the stock to my watch list and the idea will be to go long above 583 with SL at 560.
Note
I am not SEBI registered IA. This is my outlook of the stock and is not an inite to trade /invest. please do your own due diligence before investing.
Note
t1 and t2 hit
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