headymuk

Breakout + Retest ( Best Opportunity !! )

Long
NSE:KANSAINER   KANSAI NEROLAC PAI
After rally of Asian Paints and Berger Paints , it may be possible that Nerolac paints could show good momentum. It's PE is around 60 and sector PE is around 90.
Now let's talk about technicals :- Stock has been forming symmetrical triangle pattern and now it has given a good breakout . Stock is now retesting the resistance line. If retest is successful , we can see a good up-move.
This is my analysis, done only for educational purpose only, feel free to share your views/feedback.

Comments

Good pick, As per the rules i understand that it should happen between 19th June and 6th July
+18 Reply
@krpwn1516, What is the rules of that can u share it
+13 Reply
headymuk krpwn1516
@krpwn1516, ok great , i didn't find any such things, i just placed my sl and target and left it on its own :D
+8 Reply
varalakshmia krpwn1516
@krpwn1516, could you tell us how one can find the timeperiod
+3 Reply
@krpwn1516, Yea, check mine ideas
Reply
kim.l.m
l
l..m
.n
.m.

l...mm
m

.mm.m.m.mnm.

m.

l
m.
+10 Reply
headymuk kgsankar011992
+1 Reply
I am guessing it will hit stop loss, as the triangle created in a downtrend. 80% of triangles formed on a downtrend, will continue to break out downwards. #DYOR
+7 Reply
msm1270 raam2398
@raam2398, Truly a Parameter to be considered
Reply
@raam2398, If that is the case then it should have re-tested in downward breakout but as per the charts that's a upward breakout which was re-tested. So, hopefully it goes upward..
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter