Unpacking KSB : From Breakout to Retest - What's Next?

Hello Traders! Today, we're going to take a deep dive into the technical analysis of KSB, a prominent company known for manufacturing valves, pumps, and more.

🔍 Understanding the Chart

KSB has recently made an all-time high on 23rd August 2023. Interestingly, it broke this all-time high on 21st September 2023 with impressive volume. The stock has now returned to its previous all-time high to retest the breakout, but with very low and decreasing volumes. This pattern suggests that it's a retest of the previous all-time high breakout.

  • Entry Point: The stock is currently trading at 2864. We may plan an entry at this level.
  • Stop Loss: The stop loss will be around 2840.
  • First Target: The first target will be at least 2960.
  • Second Target: The second target will be around 3030.

📊 Fundamentals

The fundamentals of KSB are strong, with the company posting impressive quarterly results. You can check the details below image:

🔔 Upcoming Events :The company is expected to post its quarterly results in the coming days, which could potentially impact the stock's performance.

📚 Key Technical Terms Explained
  • All-Time High (ATH): The highest price ever reached by a stock.
  • Volume: This refers to the number of shares or contracts traded in a security or market during a given period.
  • Retest: This is when a stock moves back to a price level it has previously broken out from, often to confirm that level as either new support or resistance.

💡 Conclusion

Remember, this analysis is for educational purposes only. I'm not a SEBI registered analyst. Always do your own research before making any investment decisions.

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*previous all-time high date : 30 August 2023
First target completed almost 5%
second target has been achieved. Today's high as of now 3080, marking a 7.5% gain in just two days.


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