Kanchi Karpooram breakout indicationKanchi Karpooram has been in the down trend for quite some time and post which it went in the Accumulation phase for almost more than an year now. Recent move shows it might break on the up to give some good positive numbers.
Recently it has been attracted by huge volume and it seems it is moving out of the Accumulation zone so need to watch it for the breakout move as the downfall is limited. For huge movement 530 will act as first resistance although it had tried crossing it twice but had failed but the third attempt usually breaks it. So my levels after that would be 531-618-652-734-781 and more with the base levels of 411-380.
Downside seems limited but the sky is open from these levels based on chart pattern. If the Fundamentals are good during these period then it can give such good move.
No recommendations, just my view based on chart pattern.
