Price range of 141.15 - 142.10 is crucial one can initate the trade on a long side only if the price goes above 142.10 and sustains for 2-3 trading days.
Currently the range of 141-142 is acting as strong resistance
Target 1: 163/165
Target 2: 170/172
Target 3: 183++
S H Kelkar OVerview:
Sector : chemicals
Business: One of the india's largest player that...
CMP : 148
SL: 140
T1: 176
Risk:Reward = 1:4.5
Yellow trendline is a strong support along with 200 MA (Blue line).
Entering at this point gives good risk reward.
#HappyEarnings
SHK
On a weekly btf it bhas complete the impulse wave 1 and corrective wave 2 of larger degree, now in wave 3 of larger degree, expecting target of +300 before wave 3 gets complete
Note:
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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3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
SHK gave strong breakout after completing wave 4 triangle. It retested the breakout today on lower volumes. RSI is also taking support at the trendline. Once it gives closing above 94, it can zoom all the way to 122 in the coming days. Recent Q2 business update by the company is also good and projects a stable outlook with very low CAPEX.
