Another script from the JK group following the same pattern of multi-year breakout! A 5yr resistance breakout - retest and an impulsive move.
But, have a look at the RSI, this is still strong applying break to the upside momentum of the stock. Hence, watch for a dip till weekly DZ (green box) for entering in this script.
Pivot Reversal Levels:
- Buy above...
Price is hugging the support line but volumes on buy are huge..
There can be a bullish BO here but chances are there for bearish BO too...currently the outlook is neutral ..Keep an eye and only invest after confirmation..
JK Lakshmi Cement is in an uptrend. After the sharp up rally from the level of Rs.397.50 the chart went into the consolidation. The price gave an upward breakout to the consolidation on a daily candle dated 7th June 2021 and closed at Rs.572.25. The breakout has a support from increased volume. I anticipate the price target of Rs.695 . I suggest the stop loss at...
- JKLAKSHI - Breakout from its all time high
- Formation of complex double bottom pattern
- Increase in Volumes during bullish phase
- Breakout with huge momentum candlestick
- Entry after a retest at 580-585
NSE:JKLAKSHMI
Breakout of Ascending Channel Pattern with Huge Volume
CMP at All Time High
Possible Upside : 40%++
Next Levels : 682 & 800
SL : 450
Golden Cross Over confirmation signals very Bullish Trend Ahead
Part of the #NiftySmallCap100 Watchlist to participate in Rally
CMP: 465.8 , T: 508, SL: 422
Study :
1. double bottom breakout with good volume
2. Weekly breakout happening on weekly chart
3. Retested previous weekly breakout levels and bounced back with good volumes
JK Lakshmi Cement Cmp 493.40 dated 21.5.2021
1. Long Channel Breakout @ 493
2. Flag Pattern Flagout@ 450
3. Volume breakout.
Buy for a tgt of 580 SL 445
It is just a view, pls trade at your own risk.
