NSE:KSL
Testing Channel. Break out from a previous bearish channel is observed entering a new sideways channel. If breaks either support or resistance of the new channel, good movement could be observed.
Kalyani Steels:
Resistance = 324
Support = 302.90
If close(Weekly) above 324, Target would be 401.40.
If Close(Daily) below 300, Target would be 263, 245.20, 205.
Kalyani Steel Trying to Breakout of from a Ascending Trigular Pattern
Remain Positive till stock is trading above the trendline.
Close above 425 can take this stock 450/470
Small SL close below 409
Just look at KSL forming a text book bullish divergence on both MACD & RSI. Pick up this stock now and watch it go up!
With infra & housing in demand, KSL is one of the major beneficiary who will supply steel products to these sectors.
Please support and let me know your thoughts
Price has been through a corrective phase. A move past 353.5 would trigger a bullish sequence of higher highs & higher lows. This breakout would also trigger a buy signal in Point-And-Figure chart.
Am expecting a quick spike to 400+ in this one, if 353.5 is taken out.
Kalyani Steels Ltd. engages in the manufacture of forging and engineering quality carbon and alloy steels. Its products include rolled bars for automotive application, round cast for seamless tube industry, and machined bars for aluminum smelting industry. The company was founded on February 28, 1973 and is headquartered in Pune, India.
KSL
