Kiri Industries Ltd. (NSE: KIRIINDUS) ( 23 Aug 2024)
The stock is currently trading above all key moving averages (21, 50, 100, and 200-day EMAs), which is a positive indicator suggesting that the stock is in a bullish phase. The close proximity of these EMAs indicates a consolidation zone from which the stock might soon break out.
Chart Pattern:
The chart shows that KIRIINDUS has been forming a potential breakout pattern. The stock has been consolidating within a range, creating a base for a possible strong upward move.
Resistance Levels:
Immediate Resistance: ₹376.78 (a recent high)
Major Resistance: ₹440.55 (long-term resistance)
Support Levels:
Immediate Support: ₹333.15 (200-Day EMA)
Stop-Loss Level: ₹341.13 (21-Day EMA)
Risk/Reward Ratio:
Risk/Reward Ratio: 3.57
The risk/reward ratio is favorable, indicating that the potential upside outweighs the downside risk. With a stop-loss at ₹333.15, the stock offers a good opportunity for traders to capitalize on the potential move towards the ₹440.55 level.
Chart Pattern:
The chart shows that KIRIINDUS has been forming a potential breakout pattern. The stock has been consolidating within a range, creating a base for a possible strong upward move.
Resistance Levels:
Immediate Resistance: ₹376.78 (a recent high)
Major Resistance: ₹440.55 (long-term resistance)
Support Levels:
Immediate Support: ₹333.15 (200-Day EMA)
Stop-Loss Level: ₹341.13 (21-Day EMA)
Risk/Reward Ratio:
Risk/Reward Ratio: 3.57
The risk/reward ratio is favorable, indicating that the potential upside outweighs the downside risk. With a stop-loss at ₹333.15, the stock offers a good opportunity for traders to capitalize on the potential move towards the ₹440.55 level.
Passionate Hustler. Lifetime learner. I dive into everything with full energy and never get bored—always exploring, always evolving. Join me on my journey as I hustle through life, learn new things, and share insights that inspire!
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.