Cochin Shipyard Ltd - Breakout OpportunityDate : 1-Apr-2024
Rating : Buy - Positional Trade
LTP : Rs. 968.3
Targets: (1) Rs. 1,088 --> (2) Rs. 1,320
SL : Rs. 880
Technical View:
• NSE:COCHINSHIP is in its primary uptrend since Jun-2023 and was recently going through it's secondary downtrend.
• After touching the life time high of 945 on 31-Jan-2024, it has retraced 25% to 713.35 level.
• NSE:COCHINSHIP has broke out from its secondary down trend on 1-Apr-2024 with higher than average volume.
• RSI is already above 50. MACD is also already above 0.
• Since last few sessions, it has also sustained above 20 DMA.
• Looking strong to start a new swing from here.
Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
