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KEI Industries (BSE: 517569 | NSE: KEI) changed course after nearing INR 500 Levels kei share price reached all time high of INR 495. There is selling seen in the counter and chances are there for correction, the share has not corrected since the beginning of multi bagger rally.
- Box Breakout with good Volume buildup and also retesting the breakout.
- Pole and flag breakout formation in process breakout is pending
- Do your own analysis
In daily, price broke out of horizontal channel with good volume,
https://www.tradingview.com/x/XVBHAkzs/ In monthly, it is in strong uptrend.
tgt1 - 473, once should ride the uptrend with sl - 355.
CCI(D) crosses 100, momentum begins
2 Strength Candles
CCI (HTF) >100
The cup and handle formation seems perfect with volume drying up on the way down and increasing on the way up in the formation of the body of the cup. The handle appears to be the right length too forming on the upper half of the body of the cup.
The stochastic indicator is also at an oversold position.
Theory and history suggest that spectacular moves upwards ...
KEI breaking out from pennant pattern, width of the pattern is 67 points, so expect the same amount of up move from the breakout level, Go long.
@366 zone is a resistance zone for KEI, once crosses that it can fly
CMP 230 in my view stock is almost on the verge of a breakout..Two things either it can hit resistance zone and fall back sharply or head higher for a new range.. Lets see how the px action evolves in the coming days. I think we can see 250 levels in a short term span.
A good stock to accumulate between 118 and 130. Above 130, first target of 160-165 followed by 240-250. Also fundamentals of the company are strong and for the last 3 years its performing very well.