JKPAPER 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.
A 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...
Stock given BO and then retested it's support. Again stock is giving BO on daily and weekly chart TF with good volume build up. Follow chart for proper support and resistance levels.
JK 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...
Recently breaks all its near time resistance make or break will be decided by 10th June
indicator and rating
RSI (86) Buy rating- 1
Neutral Rating- 2.5
sell rating -4
MA/EMA cross over (still bullish )
MACD (5.20) Buy rating 3
Neutral Rating 1
sell rating 3
Jk paper shows a parabolic pattern. The zone above it has already been rejected multiple times and is bound to break soon.
Educational purpose only - trade at your own risk.
Good luck.
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 :)
This is the divergence of OBV
Now we have to wait.
If it sustains breakout, then we can enter it
Keep an eye on it.
Note: This is my view, you must do your analysis before taking any action.
