Kellton tech is creating a good ascending triangle which is a bullish sign, after hitting to 52 weeks low of 25.
On a long term support it will definitely hit 70 again in 3-6 months.
Buy on dips next 1-2 weeks.
The company is turning around fundamentally and can end in a major breakout. The ROCE is nonsensely high i.e. 35% and growth of 70%+. But promoter decreased the stake. OPM is increasing on linear scale.
But we will keep trailing stop loss and capture this move with technicals. I won't be keeping initial stop loss. So allocation of 5% as of now.
kelloton tech forms a rising channel or ascending channel pattern , which is a bullish pattern. the stock price moves between the two parallel lines sloping upwards. we can go long in kellton tech with stop loss of 110rs with the price target 129rs
Bounced from Double Bottom On Weekly Chart.
Fundamentally Company Has Consistant Profit Growth.
Investment View For 1 year.
Other Details Mentioned In Chart.
I am not SEBI Registered Financial Advisor.