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The BO candle is not very strong and it requires follow-up buying to confirm the BO, although the volumes on the BUY side are greater compared to the sell side.
On the weekly chart, we can see all lower levels have been bought by the market.
I believe there is a strong momentum.
It is at the crucial point, I can see the triple top and hence follow up buying is a ...
JK paper is in the stage 2 uptrend where it satisfies Mark's Minervini Criteria of 50EMA > 150EMA > 200EMA.
Over-all the paper sector is doing well, for eg IPAPPM is also in the uptrend.
MACD for daily and weekly is positive and RSI > 51
For fundamental details you guys can view http://forum.valuepickr.com/t/jk-paper-best-bet-in-paper-sector/19880
I have ...
Looks like JK paper is forming a double top,
Short on breach pf PDL, with SL at PDH.
will update the trade as when it moves
Support is at 154, target is 212
Entered at 16th August at 168.9 with stop loss at 158.1
Current stop loss is 158.1
In case of stop loss confirmation, points captured would be 168.9 - 158.1 = -10.8
Powered By Gapups!
On the way to 214.75 / 242.50
Alignment(All) is true
Duration: 11 weeks ~ 4 months
Entered on 23 July 18 on 106.70 with a stop loss at 97.2
TSL update on 9 Aug 18 from 97.2 to 154.5
TSL update on 13 Jul 18 from 154.5 to 157.85
Current TSL is 157.85
If TSL Hit confirmed profit is 157.85 - 106.70 = 51.15 points
Paper sale volumes are shooting up over the last few weeks. JK Paper is one of the biggest and most efficient paper makers.
With fundamental tailwinds behind, the stock can sustain the current momentum and see a further rise in price.
Buy above 170, SL: 155.
If volumes pick up tomorrow..
Case Study for duration / accumulation / momentum
(1) First instance of TGC
(2) First instance of TGC + Strength Candle
(3) Series of Indecision candles with increasing lows
(4) Breakout candle for #BoxBO
If JKPAPER gives a close abv 152 would be a good bet going forward!! CCI is in sideway move for now, if we get a break abv 85 or 100 lvl on CCI is a good sign for a breakout with momentum!
CCI(D) on the verge of breakout
EMA Alignment with 2 strength candles
Forming Highest High on the leg
entry levels and exit target mentined in the chart.
Fresh TGC + CCI BO on Daily
Target 140 / 155
SL 115 (Breaks the BoxBO)
Duration 1-2 weeks
Technical : Cup With Handle Break Out Target 144/165
Fundamental Good : (Fundamental Target 300)
1.Total Eq Cap : 176.25cr
2.Return% on Total Eq Cap Quarterly : 7.27%
3.Return% on Total Eq Cap Yearly : 6%
4.Debt : 1.08cr
5. Stock PE : 12.26