Duration:- 8 to 10 weeks
The stock has already touch the support line and showing a bullish candle, which is an indication of upside move, so we can buy this at market order. Use proper stoploss and maintain discipline throughout the trading period and use trailing stop below all the wave step by step.
- Good price action + volume near trendline resistance
- Can expect a pull back b4 taking the leap forward
- 50 EMA can be also used tight SL
- Looks breakout retest on W
Check the charts for details.
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1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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Breakout after huge consolidation is done so we can expect good upside potential.
Relative strength indicator is about to give bullish signal.
5EMA has already given bullish signal.
Target : 120+ for mid to long term
Both Technical and Fundamentals of Daawat(LT Foods) are strong.
Technical - More room for stock price appreciation for 2 reason
1. LT Foods trading around 8 P/E & 1.20 BV against KRBL's 12.50 P/E & Book value of 2.25
2. Result of LT foods for past 2 quarter were good compared to KRBL. Hence P/E and B/V of LT Foods should appreciate.