padiyaraa
Long

Kitex: ₹419 breakout from an year long downtrend line Res:536

NSE:KITEX   KITEX GARMENTS LTD
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Kitex: ₹419 is having a breakout from a long down trend line , and also from a symmetrical triangle, with an over sold status. Compare to it peers, the performance is good. Gokaldas is also almost same technical stand now but, even with half of its sales, kitex is a star performer, with no major debt burden and growth in sales shows growth in future. In my view kitex is better than titan and rajesh.
₹536 & ₹634 are the first two major resistance, on crossing these level the stock can see new all time highs.
Comment: One day it can be a page.Any one there?
Comment: so it is done in a swift way.
Comment: 1st target 536 achived
I will appreciate your view on HUL both short term and long term.
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@dinsha, see that, ok
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Finally done.. Thanks for your excellent analysis..
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padiyaraa naveenkumar3000
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Still, what other technical indicators are to evaluate the breakout confirmation.
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@dinsha,
Break out should be confirmed with volume first,
it should have preceeding base building, then only one looks for a break out, followed by a trend line break,
with an indicator divergencce or breakout some thing like that. but the text book model is not always happening in real senario.

it says in the market, almost 70% break out fails. i dont know excatly how.
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I agree with both technical and fundamental side.
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thank you for the chart
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padiyaraa noumica
@noumica, welcome
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Good news...
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