KEI - The contraction in KEI dropped from 12 % to 4% over a period of 17 days. This means the weaker buyers were getting out and the stronger ones were accumulating which resulted in the stock shooting up 10% in the next 3 days post getting into very tight movements in the last 3 days of the total 17 days.
KEI looks good at this level technically. It is consolidating after a good rally from 375 to 525 and the volumes are less so it indicates that sellers have dried up. May give upmove on break of 495. Do keep a stoploss as per your risk.
Hi all, KEI expecting earning reaction to the upside
***Use Proper Risk and Money management Rule if you don't had a one please watch the play don't trade
If you have any Question comment below
Thank you for your support
--Prabhu Rajarathinam
- 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,
In monthly, it is in strong uptrend.
tgt1 - 473, once should ride the uptrend with sl - 355.
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...
