manavtechresearch
Long

KAJARIA CERAMICS IN A ASCENDING TRIANGLE PATTERN

NSE:KAJARIACER   KAJARIA CERAMICS
Stock is no doubt in a uptrend.
While it is squeezing and trading in a range it's on the verge of a upward breakout and the reason are as follows:-
1)Moving averages are converging(nearing each other)
2)If we add in 20-dma with a 2-standard deviation higher and lower band it shows the squeeze.....
3)The lower end of the band is 690 and next major support is 693 so we have used it as our stop
CHART PATTERN ON WEEKLY TIME FRAME
-It seems like the stock has formed a ascending triangle which is a positive sign for a positional trader
-We will execute new trade when the breakout happens because right now prices are squeezing and are trading in a range which happens generally after a good long
rally and tends to continue/follow the primary trend
PLEASE NOTE
We are looking to time the markets so stop or target may get hit in intraday also or might end up as a swing trade
TRADE VIEW
BUY @ 695-705
STOP @ 690
TARGET @ 720-735
PLEASE NOTE WE ARE NOT TRADING RIGHT NOW FOR THE TRIANGLE BREAK OUT WE WAIT FOR THE BREAKOUT AND THEN TAKE A NEW POSITION ON THE TRADE
Trade active
cool!
Reply
@Einstein15, thank you!!
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