JKPAPER looks forming Inverted H&S. Currently in right shoulder.
Pros
Good Risk:Reward pick.
Cons: It broke down parellel Channel which might be a downtrend in Daily chart atleast. So StopLoss to be followed.
Be Cautious:
Broader market is not participating in recent upside of market. So follow stock specific stoplosses.
All details marked on chart. Trade will be active only above 435 BO level.
Never trade without a Stop Loss.
Earnings coming up on 6 Feb, so watch out for volatility.
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Believe you can and you're halfway there.
- Theodore Roosevelt.
📊 DETAILS
Sector: Paper & Forest Products
Mkt Cap: 6,674 cr
Established in 1962, JK Paper is the leading player in Office papers, Coated papers and Packaging boards. It is one of the most respected paper companies today.
TTM PE : 5.47 (Low PE)
Sector PE : 7.01
Beta : 1.13
📚 INSIGHTS
Strong Performer
Stock with good financial performance...
1. See, we need to identify the stock before its move, First wee have to find out the stocks which are in consolidation phase after uptrend move, the consolidation phase in the uptrend stocks can be of 6 to 8 months only.
2. Now, please see the chart of all paper stocks which are going to move and other stocks also which are standing at neckline where MACD and...
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
JKPAPER -formed an inverted head and shoulder pattern on the weekly time frame and broke out the right shoulder with a huge volume potential positional trading opportunity.
DISCLAIMER: All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational (educational) purposes only and should not be considered as a recommendation to invest,...
JKPaper has been trying to break 410 levels .
Stock has formed inverted head and shoulders pattern as a flag.
Above 425 DCB, breakout will be confirmed. Levels mentioned on chart
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JK Paper LTD Analysis on 11 Jan 24
Stoploss - 340 (On closing basis)
Target 450 -
480 -
520-
550
Market is now volatile so take risk as per your own capacity
Look at the red arrow symbol in July 2022 and June 2023. In both cases, 327.3 is a crucial point. If it crosses 327.3 with high volume, it goes up.
Buy CMP.
Target 349.9 to 357.
Stop loss 314.9.
#jkpaper #patterntrading #inverseheadandshoulder #Swingtrade #swingtrading
JK Paper : Swing Trade
>> Breakout Candidate
>> Inverse Head & Shoulder Pattern
>> Good Volume Building up
>> Good Strength in stock
Swing Traders can lock profit at 10% & keep tailing.
A strong Cup & Handle formation with a Healthy Breakout of both Price & Volume. Target planned as the Height of the C&H Neckline.
C&H structures are High Probability Continuation patterns showcasing a solid base ( Cup ) & good consolidation ( Handle )
Disclaimer: This is merely an observation & NOT a Trade recommendation. Please take trades at your own...
