JOCIL - Bullish Range Breakout Long

JOCIL LTDNSE

Description

⋅ Jul 24, 2021 7:50 AM

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

ashwinkalra2000

⋅ Jul 24, 2021 7:01 PM

There seems to be a resistance line around 248, so is this for a 10-12% upmove?

kalyanganguly

⋅ Jul 26, 2021 10:21 AM

@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 :)

ashwinkalra2000

⋅ Jul 26, 2021 10:53 AM

@kalyanganguly, Yes the share did very well, do you see further future prospects? Given the fundamentals are also strong

kalyanganguly

⋅ Jul 26, 2021 11:02 AM

@ashwinkalra2000, yes... There would be definitely be a pullback as RSI is red hot over bought. But definitely there might be upside.

manikraopave

⋅ Jul 24, 2021 8:11 AM

taaaaarget batao bandhu

kalyanganguly

⋅ Jul 24, 2021 8:13 AM

@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.