Cochin Shipyard Ltd - Breakout Opportunity

14 May

Date: 14-May-2024
Rating: Buy - Positional Trade
LTP: Rs. 1,343.20
Targets: (1) Rs. 1,508 --> (2) Rs. 1,718 ++
SL: Rs. 1,170 on daily close basis

Technical View:
• COCHINSHIP is in its primary uptrend and also going through it's secondary uptrend.
• Within the current secondary uptrend, COCHINSHIP has retraced 15% from top.
• On 14-May-2024, COCHINSHIP has broke out from minor down trend line with higher than average volume.
• COCHINSHIP has also closed above 20 DMA and 21 DEMA on 14-May-2024.
• RSI is trading at 64.28 and MACD is trading at 63.43.
• Looking strong to continue the current uptrend.

Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.

21 May

Not

21-May-2024
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LTP: Rs. 1,641
1st target of 1508 reached. 22% up from suggested level.
NEXT TARGET: Rs. 1,718.

23 May

Not

23-May-2024
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LTP: Rs. 1,890.20
2nd target of 1,718 reached. 41% up from suggested level.
MACD, RSI and Moving averages are still giving bullish indication. Can eye 2,058 as Next Target.

27 May

Not

27-May-2024
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LTP: Rs. 1,971
3rd target of 2,058 reached. 47% up from suggested level.
MACD, RSI and Moving averages are still suggesting bullish momentum. HOLD till the momentum is strong with open target.

6 Haz

İşlem kapandı: hedefe ulaştı

In last one week lot of price action has been seen. Hence, closing this idea and publishing new one with updated chart and targets.