strong breakout with great volumes seen in Kalyani steels. Great time to open a long position in this script after retest!!
triple bottom and golden crossover is seen in the script
This post is not for traders who want to trade with stop loss. This is for long term investors who wants to buy fundamentally strong beaten down names at a good entry points.
NSE:KSL
Kalyani Steels Ltd, a part of Kalyani Group, is primarily engaged in the business of manufacture and sale of Iron and Steel Products.
The product portfolio of the Co consists of...
Kalyani Steel has been in bullish market structure since jan 2021 with HH & HL. Currently it has given a breakout after consolidation. Looking at cmp, the chart suggests, trend is likely to continue on the upside. Buy on dips and enjoy the rally. However strict stop loss should be maintained at 415.
It started its down fall journey with head and shoulder lets see if history repeats other side as well
buy 270 if sustains we may see target of 440 as per pattern in long run in between there are other targets as well
based on resistance. Important is sustaining above 270 which is its january high(pre covid level)
NSE:KSL
Testing Channel. Break out from a previous bearish channel is observed entering a new sideways channel. If breaks either support or resistance of the new channel, good movement could be observed.
Price has been through a corrective phase. A move past 353.5 would trigger a bullish sequence of higher highs & higher lows. This breakout would also trigger a buy signal in Point-And-Figure chart.
Am expecting a quick spike to 400+ in this one, if 353.5 is taken out.
