#KICL trading above Resistance of 4301
Next Resistance is at 6488
Support is at 2949
Here is previous chart:
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only....
DON’T HAVE TIME TO MANAGE YOUR TRADES?
- Take BTST trades at 3:25 pm every day
- Try to exit by taking 4-7% profit of each trade
- SL can also be maintained as closing below the low of the breakout candle
Now, why do I prefer BTST over swing trades? The primary reason is that I have observed that 90% of the stocks give most of the movement in just 1-2 days and...
This stock formed a flag pattern in Daily chart and it has a triangle pattern in monthly chart now both the triangle and the flag pattern tartgets are come near same price.so look for a buy in this stock.
NSE:KICL has given a breakout on monthly charts. Target will be 2700 but I expect it to move higher once it crosses 2700. Stop Loss would be 2200 and that might also act as a support if the stock reverses to re-test the breakout. It is a monthly breakout and hence, you need to treat it as a ling term trade.
Suggested by @monkmaxims
Fundamentals:
Investment arm of the multi billion kalyani group.
It has 3 stocks in its portfolio - Hikal, Bharat Forge and BF Utilities (All kalyani group companies).
Net worth is 10000cr and the market cap of this is just 800 cr.
It is a biz only investment and it's like a holding company, yet the discount seems huge.
The stock had been...
