JKTYRE is giving a multiyear breakout
Key Pointers :
1) Stock has given a multiyear breakout with good bullish momentum
2) Pole and Flag formation for the last 2 weeks
3) Pole and Flag is breaken with good green candle
JKTYRE - IN Breakout Zone
Time Frame :- Monthly
Objectives :- Already Broke Resistance zone.
1. as per chart huge potential seems in upcoming days
2. Can retest 200-224 Zone
3. Step By Step making Huge base and going up
Idea :- Go Long and add fresh near 200 224 with Stops Trendline target 284 336 450+++
Disclaimer :- Idea just for Educational purposes.
📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Rounding Bottom
📌 Symbol/Asset: JKTYRE
🔍 Description:
Moment Stock with Strong Breakout
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
> NSE JKTYRE getting supprt on trendline with confluance of zero upper side resistance of
previous monthly weekly candle.
> may make a swing upmove of 8% or higher. with SL of month open.
> also today jktyre rating upgraded to A+
> entry near 194 on 22 jun 2023
J. K. Tyre---M, W, D breakout on chart with huge volume, rsi, adx, + dmi, are positive on chart.. Today up by 14%...
Buy near breakout level @ 208-213
Sl 192
Tgt 236-258-329.
> NSE JKTYRE getting supprt on trendline with confluance of zero upper side resistance of
previous monthly weekly candle.
> may make a swing upmove of 8% or higher. with SL of month open.
> also today jktyre rating upgraded to A+
> entry near 194 on 22 jun 2023
Analysis Criteria Used:
1. Please find the Chart Analysis done for the Swing Trade Idea levels for 2nd May, 2023
2. The analysis for the Trade ideas, has been done based on Trend analysis and Chart Patterns with Volume Buildups
Focus On:
1. Always keeping your Risk Management in play
2. Using a Stop Loss; because it is your Best Friend
3. Always Plan your Trade...
Stock moved up yesterday on strong volumes. It is looking good by MACD, RSI and DMI on a monthly chart. Yesterday it made fresh 52 week high. After making 52 week high chances are that it will move towards 180 rs range.
It is firmly trading above 21 and 50 month average. It is also forming a nice cup and handle pattern.
Please note I am not a registered advisor so...
Long JK tyre stock. All important levels are marked on the charts. Safe traders can buy half the quantity after the BO of marked TL & balance quantity to buy after the BO of the resistance area. Good risk to reward trade. On all higher time frames, RSI is above 60 a sign of strength. This is for your educational purpose only.
BUY - JK TYRE & INDUSTRIES
CMP - Rs. 199
Target - 1: Rs. 250
Target - 2: Rs. 290
Target - 3: Rs. 320
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Technicals - Cup and Handle Pattern BO
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This is just a view by an expert analyst, please invest at your own risk.
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