Pattern: Kiri Industries has formed a Bullish Flag on the daily chart, signaling a potential continuation of the prior uptrend. Breakout: The stock has recently broken out of its consolidation phase, confirming the flag pattern.
Entry Strategy:
Buy at: 613 INR. Wait for a confirmation close above the flag's resistance for entry.
Risk Management:
Stoploss: Set at 554 INR, positioned below the flag's lower trendline.
Risk: 59 INR (Entry - Stoploss) Rewards: Ranging from 31 INR to 175 INR, offering a strong risk-reward profile.
Notes:
Volume Confirmation: Ensure the breakout volume is higher than average to validate the setup. Market Context: Consider the sector and broader market trends for added confidence. Fundamentals: For long-term holds, review company fundamentals.
This setup provides traders with a clear plan for entering, managing risk, and aiming for multiple profit levels. However, always adapt your strategy to real-time market conditions.
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