Kalyan Jewellers saw good upmove from May 2024 to Jan 2025 giving 400 points move within 31 weeks
However the stock started correcting from 750 levels all the way down to 350 level by May 2026
It took 74 weeks to correct 400 points.
Now it has started moving up again and has zoomed past 450 to touch 600 within 4 weeks.
450 was the last swing high which gave us the 350 level. Now since price has moved up and sustained above 450 it will be ineteresting to see if we get a chance to enter at / near 450.
Upward trendline has been drawn to keep watch of entry points. If price is truly in uptrend it should respect that line
Every touch point is likely entry opportunity for target 720
Keep SL at 380 and Target near 720
Wait patiently and plan entries when R:R is atleast 1:2
Happy trading!
However the stock started correcting from 750 levels all the way down to 350 level by May 2026
It took 74 weeks to correct 400 points.
Now it has started moving up again and has zoomed past 450 to touch 600 within 4 weeks.
450 was the last swing high which gave us the 350 level. Now since price has moved up and sustained above 450 it will be ineteresting to see if we get a chance to enter at / near 450.
Upward trendline has been drawn to keep watch of entry points. If price is truly in uptrend it should respect that line
Every touch point is likely entry opportunity for target 720
Keep SL at 380 and Target near 720
Wait patiently and plan entries when R:R is atleast 1:2
Happy trading!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.