Symmetrical Triangle formation on Daily charts for KMCSHIL

24 déc. 2021

KMCSHIL has a symmetrical triangle pattern formation on the daily chart. Stock has been consolidating from mid September. The RSI is not quite encouraging at 43, but seems has given a BO, While todays closing candle is just outside the triangle pattern. stock has form a a good base around 59-61 & held it well during past 1 weeks correction. Low risk : High reward candidate. Target can be 90 with an SL of below 59 on DCB.

Disc: Invested, charts for education purpose only. Not a reco for buy/sell.

29 déc. 2021

Note

Locked in 5 % Circuit today, volumes for today are more than the past few days, so looks good, RSI is now 64. RSI has given break out from the previous high RSI of 55 when price was 70, but the current price is yet to cross the previous high, so 70 should be on the cards.
Disc : Invested Not a reco to buy/sell

30 déc. 2021

Note

2nd UC locked in, the volumes have been increasing, perhaps the highest volumes in past 10 weeks. a weekly close above 70.05, will be good for the script to move upto next resistance of 80, with a small resistance at 72 on daily chart.RSI also given BO from previous high RSI of 24th Sept, while the price is yet to show the BO of previous high.

Disc : Invested, not a reco to buy /sell

31 déc. 2021

Note

3rd consecutive UC, volumes are highest of the 3 UCs, corssed the minor resistance at 72, It may retest 70 as it was a BO/resistance level of 70. RSI is 77 so good strength. Disc : Invested, not a reco to buy /sell

10 janv. 2022

Note

BO restest done, moved up again with UC. Keep it on radar, with Covid rising (very unfortunate, i wish it just doesn't rises, Ok if i dont make a positive trade in this) hospital stocks will see upmove. Volume for upmove is more than the fall. RSI is good at 65.