kamathhotel fibonacci retrcaementon this kamathhotel, which already a bullish outperforming stock in this sector,
continuosly making higher high on a trendline and getting support on this line.
this position is also a trendline support area
now here also a confluance of fibbonacci retracement on its high support area( marked)
so may lead to a 8% target with trendline SL
Kamathotels
Kamat Hotels - Ascending Continuation Triangle An Ascending Continuation Triangle is a bullish pattern has been identified in Kamat Hotels by two converging trendlines, where the lower trendline is rising, and the upper trendline is horizontal.
The pattern indicates that buyers are more aggressive than sellers as the price forms increasingly higher lows and constant highs. Once the supply of shares available at a fixed price depletes, the shares break out from the top trendline and move higher, confirming a continuation of the prior uptrend.
The general rule is that prices should break out somewhere between three-quarters and two-thirds of the horizontal width of the formation, and the breakout should occur well before the pattern reaches the apex of the Triangle. Investors should also consider the volume, support and resistance, moving average, and inbound trend while evaluating the reliability of the pattern (Which in this case has been considered).
Target Price 146.00 - 149.00
Note: This Study is is for educational purpose Only.
Kamat Hotels (I) Limited KAMATHOTEL:- Rounding bottom pattern has been formed, if the breakout sustains the upside, we may see upside movement.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
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Thanks,
Ajay.
keep learning and keep earning.
KAMATHOTEL - Ichimoku Bullish Breakout Stock Name - Kamat Hotels (i) Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 117
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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