krishna defence and allied industries

rrgiyer Updated   
One of the IPO stocks of last year with issue price of 39 and listing of 94. Has seen correction from IPO listing levels of Rs 50 almost 40% correction. The stock is now on upmove. It had given a cup and handle breakout and rebounded from its 1.618 levels. The stock has also shown increasing volumes and RBI is also on rise. if the stock moves past the 1.618 levels, which is also the R1 level (160.4) we should see a target of 228.50 (40% upside)

CMP -- 147.35
Support -- 144.3 (minor)
Support -- 118.3 (major)
Resistance - 160.4
target - 228.5
crossed R1


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