kalyanganguly

JOCIL - Bullish Range Breakout

Long
NSE:JOCIL   JOCIL LTD
Note: This is for educational purpose only.

There seems to be a bullish breakout post consolidation for 16 months. The breakout is supported by high volume . Moreover, there seems to be a bullish breakout in RSI as well. RSI above 70 indicates bullish momentum.

SL: ₹ 185

Comments

There seems to be a resistance line around 248, so is this for a 10-12% upmove?
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kalyanganguly ashwinkalra2000
@ashwinkalra2000, I keep the target open. Weekly chart usually means a holding period of 3 - 4 months. But it was good to see a 20% up today itself :)
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ashwinkalra2000 kalyanganguly
@kalyanganguly, Yes the share did very well, do you see further future prospects? Given the fundamentals are also strong
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kalyanganguly ashwinkalra2000
@ashwinkalra2000, yes... There would be definitely be a pullback as RSI is red hot over bought. But definitely there might be upside.
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taaaaarget batao bandhu
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kalyanganguly nileshparve10
@nileshparve10, target is open sir. I usually keep trailing SL based on 50 EMA. If price breaks down 50 EMA, I exit. Else, I usually ride the trend.
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