Hi All,
Posting after a long time. Almost compelled to. Saw a very juicy chart after a long time. Maybe found time after a long time from daily work. Kajaria Ceramics has broken out to all time highs. The chart seems very impressive especially in the light of the general weekness in the market. This shows that there are strong hands behind the move and there is lot of steam left in the counter. Such moves generally are also precursor to some larger news. On daily charts it has consolidated between 85 and 90 for one week and seems to be breaking out of upper margin. Buy with a stoploss at 81.
Posting after a long time. Almost compelled to. Saw a very juicy chart after a long time. Maybe found time after a long time from daily work. Kajaria Ceramics has broken out to all time highs. The chart seems very impressive especially in the light of the general weekness in the market. This shows that there are strong hands behind the move and there is lot of steam left in the counter. Such moves generally are also precursor to some larger news. On daily charts it has consolidated between 85 and 90 for one week and seems to be breaking out of upper margin. Buy with a stoploss at 81.
good work vishal... but i think the stop should be placed lower than 81. area of 81 is the support area of trendline u have drawn in the chart. so if it falls and reaches 81, is not it a buy again point?
ReplyDeleteThat can be an opinion Shajahan. But my point of interpretation is that if stock falls below 81 then that would indicate lack of demand. Then we would not have strategic advantage holding on to the stock.
ReplyDeleteStock has broken out of the consolidation pattern. Brace yourself for the move if you are holding positions
ReplyDeleteWe have sold out our holdings for the stock. We will again look at re-enty at later point.
ReplyDelete