Cochin Shipyard Ltd - Breakout Opportunity
Updated
Date: 6-Jun-2024
Rating: Buy - Positional Trade
LTP: Rs. 1,853
Targets: (1) Rs. 2,100 --> (2) Rs. 2,390 --> (3) Rs. 2,860
SL: Rs. 1,630 on daily close basis
Technical View:
•
COCHINSHIP is going through it's secondary uptrend within primary uptrend.
• After touching the high of 2100 on 3-Jun-2024, it has retraced 22% to 1630.55 level.
• On 6-Jun-2024,COCHINSHIP has broke out from minor downward line within secondary uptrend.
• Prices are trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is trading at 60.62 and MACD is trading at 164.40.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Rating: Buy - Positional Trade
LTP: Rs. 1,853
Targets: (1) Rs. 2,100 --> (2) Rs. 2,390 --> (3) Rs. 2,860
SL: Rs. 1,630 on daily close basis
Technical View:
•
COCHINSHIP is going through it's secondary uptrend within primary uptrend.• After touching the high of 2100 on 3-Jun-2024, it has retraced 22% to 1630.55 level.
• On 6-Jun-2024,
COCHINSHIP has broke out from minor downward line within secondary uptrend.• Prices are trading above 20 DMA, 50 DMA and 21 DEMA.
• RSI is trading at 60.62 and MACD is trading at 164.40.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
Note
14-Jun-2024---------------
LTP: Rs. 2,122.35
1st target of 2,100 reached. 15% up from suggested level.
Note
19-Jun-2024---------------
LTP: Rs. 2,256.20
2nd target of 2,390 reached. 22% up from suggested level.
Note
3-Jul-2024-------------
LTP: Rs. 2,436.35
31% up from suggested level.
Note
4-Jul-2024-------------
LTP: Rs. 2,679.95
45% up from suggested level.
Trade closed: target reached
5-Jul-2024-------------
3rd target of 2,860 reached.
LTP: Rs. 2,837.60. 53% up from suggested level.
ALL TARGETS REACHED. CLOSING THE IDEA.
Disclaimer
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