KILPEST INDIA - Breakout from a CUP pattern on a WEEKLY time frame and now on a low volume pullback done.
Disclaimer:
For educational purpose only.
Please do your own research before taking any trades.
Happy Trading!
stock reached hotspot level of 297 with multiple confluences.......stock has been moving up since then...hit 20% UC today.....stock should be aggregated at every dips for a high target..
Buy Kilpest India: CMP=467 Target 1=528 Target2 =570
Technical Parameter:
Stock given breakout on 3rd January made a rally and now retracing.
Taking support of Trendline and 55 SMA.
RSI taking support of 50 (again bullish sign)
CMP=467 , 50SMA =464 200SMA=454
Fundamental:
Company is on crop protect business (Bullish sector)
ROE 98% (3 year avg) 85%(5 year...
Kilpest seems to be currently undergoing the 3rd wave of a long term upward trend and so far the wave action hasn't been broken. The 3rd major wave is in itself comprised of 5 wave actions, of which 4 seem to be complete, the 5th of which is supposed to be the longest is yet to happen. Current price is just above a major resistance and a possible setup is to enter...
Kilpest has returned from long range resistance at 480, came below the medium term support and now showing short term bullishness. Once any bullish trend takes it above 446, it continues to tread above 450 level for a couple of days and making the support strong, we may see a prolonged bull run till the year end and the target will be 770.
Price action suggests that Kilpest has broken on Monthly as well as Weekly charts. Long positions can be tried around CMP with 187-190 as SL CB.
Disclaimer: Ideas for educational purpose, please do your due diligence before trading.
