KOTHARI PETRO By KRS Charts31st Oct 2024 / 10:13 AM
Why KOTHARIPETRO❓
1. Fundamentally Good Company with Good Durability and at Good Valuations. ✅
2. Technically, All Time Bullish Stock. 📈
3. In August, Broke Resistance and Now again giving opportunity to Buy at same Price while Retesting same Resistance Zone.
4. Though Better Entry would be around 206 to 209 Rs range.
5. Further Bullish sign, Bullish Continues Divergence is visible with MACD, means Sellers are Exhaust and Failed to Make New High. 💪
Target is Marked in Chart SL will be Flexible Either staying above 100 EMA or Staying above Resistance Zone any.
KOTHARIPET
Kothari Petrochemicals Limited - Breakout Setup, Move is ON...#KOTHARIPET trading above Resistance of 220
Next Resistance is at 283
Support is at 167
Here are previous charts:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Kothari Petrochemicals Limited - Breakout Setup, Move is ON...#KOTHARIPET trading above Resistance of 167
Next Resistance is at 220
Support is at 123
Here is previous chart:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
KOTHARIPET - Weekly Chart AnalysisFrom the left to the right you can see a year long 56% base which started topping out in April22. It took almost a year when the stock took support at 60 level and started its upward journey after consolidating for month and half. It has retraced back almost to 38% of fib.
As you can see what took a stock a year to correct 56% and it took only 3-4 months to reach at similar levels.
I hope it should either spend few weeks here before continuing its upward move or a sudden move and then small base. So shall position ourselves in such manner.
Now 102-124 shall now act as support zone and our view stays valid until it closes below this levels on a weekly timeframe.
It is above all the key moving averages.
As per the trend based fib 169.50 - 200 - 240 are the levels it can test if it sustains and move further as per the trend.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Target 2 achieved in Kothari Petro. Gain of 60%. Target 3 is ON.This is follow-up on Kothari Petrochemicals. Can check link to related ideas.
Target 2 achieved. More than 60%. Target 3 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.