JKUMAR INFR.LTD.Long
Approaching Key Resistance - Watch for Breakout Looking Strong
Updated
The stock is forming an ascending triangle pattern, characterized by a horizontal resistance around ₹700 and higher lows converging towards this resistance.
- The price is approaching the upper resistance level at ₹700.
- A breakout above this level with strong volume can signal further upside potential.
- Immediate resistance is around ₹700, which has been tested multiple times.
- Support is established along the ascending trendline, currently around ₹650.
- Volume has been consistent with no significant spikes yet, indicating a potential for volume increase upon breakout.
- The RSI is around 57.63, showing bullish momentum but not yet overbought, indicating room for further upward movement.
- Watch for a breakout above ₹700 with increased volume to confirm the next bullish move.
- In case of a breakout, the stock could target ₹750 and higher.
- Traders might consider entering on the breakout or on a retest of the ₹700 level, with stops below the ascending trendline.
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