1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
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Hi everyone, welcome to the setup
1. We can see a good volume breakout from the channel pattern.
2. Clean retest with low red volume candles.
3. A 16% upside move is expected from here which is the height of the channel as well.
I have taken a cash buy-in this and the expected time to reach the target is 1-2 months.
Feel free to like the post and ask any doubts...
3rd wave was extended one which ended at 3.618 of 1st wave measurement. The corrective ABC remained within 0.386 of entire run from bottom of 2 to top of 3. This is typical sign of 4th wave. The triangle type consolidation happened normally in 4th wave. Breakout happened on the back of volume , positive RSI and RS reading. Target could be 0.618 to 0.786 of 3 Rd...
Breakout after huge consolidation is done so we can expect good upside potential.
Relative strength indicator is about to give bullish signal.
5EMA has already given bullish signal.
Target : 120+ for mid to long term
Both Technical and Fundamentals of Daawat(LT Foods) are strong.
Technical - More room for stock price appreciation for 2 reason
1. LT Foods trading around 8 P/E & 1.20 BV against KRBL's 12.50 P/E & Book value of 2.25
2. Result of LT foods for past 2 quarter were good compared to KRBL. Hence P/E and B/V of LT Foods should appreciate.