Chart Patterns Say Something Big is Brewing!📈 JK LAKSHMI CEMENT – Chart Patterns Say Something Big is Brewing!
🕒 Date: May 14, 2025 | 📊 Chart: Daily (1D) | Triangle Pattern Breakout!
📊 Price Action
JK Lakshmi Cement closed at ₹861.95, delivering an impressive gain of ₹49.20 (+6.05%) from the previous close of ₹812.75. This bullish price action was supported by a notable spike in volume, with 375.89K shares traded, which is significantly higher than its recent average—indicating strong institutional or informed buying interest.
📊 Chart Pattern
The current chart setup reflects strong bullish momentum supported by multiple technical confirmations. The RSI has broken out of its previous range, signaling increased buying strength. A recent MACD crossover further reinforces the upward trend, indicating potential continuation. Bollinger Bands are expanding, which typically suggests rising volatility, and a BB Squeeze-off breakout appears imminent—often a precursor to significant price movement. Additionally, there’s a 20-day volume breakout, highlighting strong market participation. With the price nearing a key resistance level, a breakout above this zone could trigger a fresh rally if sustained by broader market strength.
📊 Support and Resistance Analysis
At the current market price (CMP) of 861.95, traders should closely monitor the nearby key levels to plan entries and exits. On the upside, the first resistance lies at 🟥 885.97, followed by 🟥 909.98 and a stronger barrier at 🟥 950.47. These levels could act as hurdles if bullish momentum continues. On the downside, the first line of defense is at 🟩 821.47, with further support at 🟩 780.98 and 🟩 756.97. If the price weakens significantly, a cautionary zone emerges near ⚠️ ~640, which may offer only weak support. These levels are crucial for risk management and trade planning, especially for intraday or swing traders.
📘Educational Insights
How Traders Can Trade This Setup:
Traders can observe this setup where the suggested entry range lies between 855–870, either on minor pullbacks or a confirmed breakout. The potential target zones are 885, 909, and 950, with a stop loss placed below 821 to protect capital and limit downside risk. Technically, the setup is backed by a triangle pattern breakout on strong volume, indicating a higher probability move—but it's crucial to manage risk and position size carefully.
⚠️ Risk Management Tip: Always trade with a clearly defined stop loss. Avoid entering positions impulsively. It is advisable to start with a smaller quantity and increase your exposure only if the price action confirms the continuation of the trend. Capital protection should always be the priority.
📢 Disclaimer
This content is created purely for educational and informational purposes. It is not intended as investment advice, stock recommendations, or trading tips. Trading and investing in the stock market involves risk. Please consult with a SEBI-registered financial advisor before making any investment decisions. The author/creator is not registered with SEBI and shall not be held responsible for any losses incurred based on this information. Always do your own research and use proper risk management.
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