in weekly, price is moving sideways, it looks like a symmetrical triangle.
price recently bounced from the trend line support with good volume,
in daily , there is a symmetrical triangle formation and then break out with good volume.
there was a BB squeeze , now price closed above upper BB with good volume and BB is now expanding.
sl - 260, 1st tgt -...
Kitex: ₹419 is having a breakout from a long down trend line, and also from a symmetrical triangle, with an over sold status. Compare to it peers, the performance is good. Gokaldas is also almost same technical stand now but, even with half of its sales, kitex is a star performer, with no major debt burden and growth in sales shows growth in future. In my view...
Hourly chart observation of NSE:KITEX showing a few blocks of upside...Go for an initial target of 445 and then 450 resp.
Target 1 :445-446
Target 2: 450
Regards
Bibin
Kitex Garments on weekly charts has given a breakout after a long and decent consolidation.
This stock can be bought now for first target of 620 Positional.
I expect this level can be seen in couple of months from now.
Good Risk to Reward.
