JKPAPER trade ideas
Reversal from long term support zone BUY POINTDaily chart shows reversal from long term support zone with closing of subsequent days on heavy volume above the downward trendling. It is indicating heavy buying pressure resulting in the reversal of the downtrend.
target - 103.50
stop loss - 94.5
J K Paper Short Term Buy @ around 90-91; Target 98Knife pattern. Good company in paper industry.
Note -Only Study Purpose, consult your advisor
Short Term
Buy @ around 90-91; Target 98
JK Paper buy on BreakoutClose above 98 Can take this stock to
Target 1- 126
Target 2- 144
SL 89 On closing basis.
Exit JK PapaerIf anyone holding JK Paper should now look to exit and book out.
It has broken the trendline and it may very well go down till below levels.
Target 1- 78
Target 2- 72
JK Paper- Positive Reverse Divergence - Buy Re-entryAs seen JK Paper has formed positive reverse divergence, which gives us a good re-entry in the stock.
A positive reversal divergence is when price makes higher low but the RSI makes lower low, which implies that even though RSI is weakening and making a lower low but still price fails to break the previous low and makes a higher low, making it bullish. Positive reversal divergence appears in an uptrend and is more reliable than regular divergence because in this we trade in the direction of the prevailing trend.
It is also called hidden divergence but reverse divergence is better because it tells us that it is the opposite of regular divergence.
Expected Levels- 100,105
JK Paper- Flag and Rounding Bottom Breakout- Buy SetupWhy am I bullish about the stock?
JK Paper has formed Flag Pattern breakout in the Daily charts with nice volumes, indicating a continuation of the upward trend.
Also, it has given a breakout of the rounding bottom pattern in the daily charts.
It is bullish in larger time frames as well.
Aggressive traders can enter the trade at cmp , whereas more conservative traders can wait for a small pullback.
Expected Levels 100-105, Exit Levels- 77
PS for beginners:
I always take a risk of 1-2% of my capital on a trade i.e in case my stop loss hits I would lose only 1-2 % of my capital. This way I am able to protect my capital even if a few trades goes against my direction. This is one rule that I follow for all my positional trades irrespective of how confident I am about the trade.
JK PAPER - BREAKING ALL TIME HIGH (90 NEXT)It is been observed on the daily chart that the price action forms a descending triangle shape pattern which is counted under a flag pattern due to it size. It is also been observed that the price action is breaking out from 83.50 levels, which is ALL TIME HIGH LEVELS. Therefore, the price action indicates strong positive sentiments, where buyers have full dominance and control over price action. Now, it shall move further up in an uptrend.
Target: 90
Stoploss: 77
