As per the 2 Hour Chart of KIRLFER, we have witnessed a formation of a bullish engulfing pattern on the downside levels.
Therefore, we are expecting to witness a bullish momentum in the stock in the upcoming trading sessions. Wherein, the stock is being expected to face a resistance initially at around the levels of 216.20, 221.95, and 227.90. Whereas, on the...
CHART -> Kirloskar Ferrous WEEKLY SETUP
As seen per the chart, there are few things to note:
1. When the stock was in upmove, we have seen good volumes but in downmove volumes were very low.
2. A descending triangle a breakout is seem to be forming with good volumes.
3. MACD is about to have a bullish crossover.
Looks good for medium term.
Disclaimer: This is...
Nice double bottom and trendline breakout with high volume formation on the daily chart.
Can create a long position within buying zone of 218-223, with SL - 198 (on day close)
Disclaimer - Do your own study before, putting money at risk. For educational purposes only.
DAILY SWING CALL // Friday 4th of June 2021 // NSE:KIRLFER
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 244.35
TARGET: 281+ (15% Around)
This chart is at the request of a well wisher.
The stock has been moving in channels within a bigger channel and is now hanging in near the top of the channel for quite some time with accumulation going on.
A positive divergence suggests the stock is quite ready for an up move.