Hold Redington for 2-3 months.
*Stock has taken a dip on the weekly time frame and now the dip is over as per the weekly chart.
*Stock is starting a new uptrend after consolidating for two months.
* Targets of 270 looks achievable in 2-3 months... or sell when weekly RSI reaches the level of 85.
*** Stock is undervalued with PE of 15 while the sector PE of...
Very High Probability Trade because of 4-factor confluence:-
1. RSI Divergence on 1-hr Time Frame
2. Inverse Head and Shoulder on the 1-hr time frame
3. Price is near weekly support level
4. Weekly candles are being formed with long wicks, rejecting a level of 147 (Which is the stop-loss point)
When Trade will be confirmed?
1. Let it break the downtrend...
Hi, Inverse Head and Shoulder pattern is formed on JK Cement in 15 Minute Time frame. Neckline broke with Heavy Volume . We can go long above 1950 for target 2200 and stop loss below 1850. This is for study purpose.