Great Setup. Good Consolidation. Positive Rsi Divergence. Most IMP-Low SL.
down almost 60% from high, available at p/e of 8 done capacity expansion of 48 cr promoter holding at 50% roce at 25% low dividend paying company price to sales at <1 smallcap company with market cap 250 cr
This idea was discused by me previously at 800-810 odd levels it made high of 877 , now as we witnessed a steep correction it had able to sustain its chart structure. It's ready to give breakout of an ascending triangle pattern.
This stock have great fundamentals and at present made a tripple bottom and also trying to give breakout of descending triangle patterngood stock for patient investors.
Kanchi Karpooram is forming a Head & Shoulder pattern Warning!!
KANCHI KARPOORAM LTD. Bearish Downtrend Channel Stop Loss - 695 on Closing basis
- Breakout done - Retest levels 950 - 970 - Stop Loss below 850 DCB - Consistent Sales Growth - Increase in Promoter & FI Holding
Kanchi today had Symmetrical Triangle Consolidation breakout
Last tuesday made a break out and closed above resistance line and the last week it played by the copybook playing around the resistance line and weekly closing was above the resistance. If it manages to close above this resistance at around 300 in this week we may expect a target of 590- 600 by August end
Target is 557, Double resistance between price range 345-360, support is at 304
It is above support and if turns bullish, maintain momentum, target of 666 is a distinct possibility in intermediate term
Kanchi has to hold the support at 322 for any further up move
if 305 is broken then178 might b seen!
resistance in at 463.5 and if that is crossed on closing basis, then 560ish levels might be seen. my stop loss would be 430.
Short term support is at 469, strong resistance at 570.