JK CEMENT POSSIBLE MASURED MOVE UP

19 Eyl 2023

JKCEMENT

I wish you and your family a very happy Ganesh Chaturthi.

JK cement trading idea on this chart you can see the price has broken out of its downtrend resistance line and formed a FLAG TYPE range and it's consolidating around 3335.

-The recent up leg has a 0.618 Ratio retracement.

-Price is trading above its medium-term and long-term exponential moving average.

- Volume spikes are there in bullish bars

- Formed a very tight range and it could give a good breakout above 3335.

- Target is measured move Of the previous uptrend, Which is projected to 3470.

* Stop loss- Safe players can put a stop loss below the retracement and risk takers can use a stop below the First up leg which is around 3200.

Please take a reference of the chart all levels are mentioned there.

Always trade with stop loss to avoid unnecessary drawdowns in the account.

This is my analysis please comment down your view on this stock.

Keep learning.
Happy trading