all plotted on Chart.
Technical Indicators &Oscillators favour UP Trend.
To Complete "Bearish GARTLEY" Point "D" is to be @ 179.60
Pattern may change to "Bearish CRAB" , Then Point "D" is to be @ 182.95
Go Long Below @ 165.70.
More accumulate: @ 161.10-
Target: @ 167.10, @ 168.75 , @ 171.15, 2 17206, @ 174.2 ..... more on Chart.
Sl : Below 155 (by...
Price seems to have completed a Wyckoff Spring in the hourly time frame. The stock is in a uptrend in the daily time frame. A breakout past the recent high of 185 would be a positive outcome and strengthen the case for the Wyckoff Spring argument. The occurrence of this Spring at the "Breakout-Retest" zone in the weekly & monthly time frame strengthens the bullish...
Everything in chart. This is a follow up on the weekly breakout.
The stock is at a trend line support and has given a positive candle today signaling upward move.
Showing good signs on daily too with a potential ascending triangle. Good Luck.
Ascending triangle breakout soon on a daily chart as well.
Keep SL according to risk appetite and go for given targets.
Falling rubber prices also good for the stock, good results too.
JK tyre broke an important resistance zone 2 weeks back with good volumes. Now it has retraced a bit and is inching towards its breakout levels. Retest zones are always the best area to enter as there is minimum risk at this entry point. Its taken a shape of cup and handle pattern.
I would suggest to enter half qty now around 165, and rest if we get a chance to...
For study,
Jk Tyres, forming C&H pattern.
Handle got double bottom as well, which the target will close above neck of C&H.
as per double bottom, the target is around 165.
as per C&H breakout, the target is around 250/255. from 161/162
Tyre Sector has been in focus from past 2 days due to falling Crude & Rubber prices & with 9000 broken in upside the laggards will start to catchup.
Now, it shall further move up from here with support of the channel.
Target: 136(Very Short term)
Stoploss: 122 (Closing Basis)
RR: 1:1.3
Target: 149 (Short term)
Stoploss : 117
RR: 1:2
JK Tyre shall move to 124.50 in the next trading sessions and a strong close above 125.60 can aim for target of 131.70. Supported by volumes it shall even test 160 levels in the near term with a SL at 113.
