On a daily time frame chart, Kokuyo Camlin forms a symmetric triangle pattern with consolidation in the triangle for many days. This will give a breakout or breakdown which is very effective. Targets and stop loss for the positions are as mentioned in the image.
Stock has given Inverse Head and shoulder pattern breakout above 70.
Stock has also given close above resistance levels of 75.
Stock is trading above all important moving average where 20EMA>50EMA>100EMA>200EMA.
Accumulate in level of 75-72, with SL of 69 on closing basis.
target can be 90/105/120.
PS: this is just for learning purpose, please consult your...
K0KUYOCMLN has been trading in range for around 4 months and gave a breakout today. As per my analysis the stock is a BUY with a potential upside of 40%. So lets check what's in our favour.
1) The stock broke its resistance with its 4th attempt with a strong green candle.
2) The volume was 15,53,670 which is extremely high as compared to its daily volume which...