Expecting a Bullish Momentum in KIRLFER

As per the 2 Hour Chart of KIRLFER, we have witnessed a formation of a bullish engulfing pattern on the downside levels.

Therefore, we are expecting to witness a bullish momentum in the stock in the upcoming trading sessions. Wherein, the stock is being expected to face a resistance initially at around the levels of 216.20, 221.95, and 227.90. Whereas, on the other hand, on the downside levels, the stock may face a support at the level of 205, on closing basis.
Closing Price (as on 19.05.22) : 210


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Comment:

KIRLFER has successfully reached its predicted 1st level of Resistance, reflecting an upmove of 2.95% approx.