Kalyan Jewelers near the important resistance zone .. Daily candle already closed above 200 ema. Buy if the daily candle close above 68 for target of 75 and 83
SL below BO candle.
Kalyan Jewellery - Long term Trend Analysis
Now in the consolidation zone - 59 to 62.5
Only it will reverse bullish when it opens and close above 63...
Educational purpose...
sell call on kalyan jewellers
stock has made a classic triangle pattern
stop loss is high due to late identification, so please trade accordingly.
current price 61 rs
1st target 45 rs.
2nd target 30 rs.
stop loss 68 rs.
Systematic triangle in progress and it seems lower end of triangle so long can be initiated here with week low as SL. This will give higher risk-reward
Please see the chart for my perspective and interpretation of the price action for Kalyan Jewellers stock.
With this post, I am trying to adopt a more explanatory approach towards my analysis along with an attempt to make charts more visually appealing and clutter-free.
For any feedback about the analysis or the presentation, feel free to drop a comment below....
