J K Paper cmp 490.10 by Weekly Chart view*J K Paper cmp 490.10 by Weekly Chart view*
- Volumes surge over last week well above the previous weeks
- Back to Back Triple Bullish Rounding Bottoms with neckline tad above Support Price Band
- Price has sustained above both Trendlines of the Falling Resistance and the Rising Support
- Also Price has tested retested the Support Price Zone and taken breakout by Volumes surge
- Weekly Support at 432 > 365 > 284 with Resistance at 561 > ATH 638.75 and each New ATH
Jkpaperindustries
JKPAPER Long IdeaJKPAPER looks forming Inverted H&S. Currently in right shoulder.
Pros
Good Risk:Reward pick.
Cons: It broke down parellel Channel which might be a downtrend in Daily chart atleast. So StopLoss to be followed.
Be Cautious:
Broader market is not participating in recent upside of market. So follow stock specific stoplosses.
Weekly bullish pattern in JKPAPERA bullish flag & pole Chart Pattern Breakout on the Weekly Time frame of NSE:JKPAPER
Price Action supported by very good volume.
The stock is currently in uptrend making higher highs and higher lows.
One can add this stock into their stocks to buy list and initiate the long trade as per the levels mentioned on the chart
Stop loss will be on a Weekly closing basis.
Trend Analysis :- UP Trend
Chart Pattern :- Bullish flag & pole Chart Pattern
Technical Indicator :- Positive MACD Crossover
Disclaimer: This is for educational purpose only.
PAPER INDUSTRIES MAY GIVE RALLYJK PAPER : Currently this is trapped in rectangular pattern consolidation. The upper ceiling stands to be at 253 and lower support is 218. It has been range bound with in this range. Recently it is testing 220*4 HRS Moving average. Previously the up move came after it tested 220*4 HRS Moving average. And hopefully we will see a good up move from now onwards, the SL remains to be at below 218 on closing basis.
SESHAPAPER :
This stock is taking support at 200 DMA and in bullish continuation pattern. Fundamentals are even good.
RUCHIRA :
Ruchira Papers is the stock I am having a lot of expectation. Currently It is taking Resistance as support. Respecting the 200 DMA as well.I am bullish about this stock also.
Analysis & Chart by - ADARSH DEY
Abstract Head and Shoulder | JK paper This is no coincidence that somewhat a head and shoulder patterns neckline + falling trendline + a very crucial volume-based traded area all broken and closed with a bullish candle on the day .... JK paper seems to be rocking in a few days.
Risk = 4% . The reward depends on how much patient u can be :)