KIRLPNU - Horizontal Range Breakout
KIRLPNU - Horizontal Range Breakout
Rally and Consolidation:
The stock initially had a significant uptrend (seen in April-May), followed by a sideways correction with lower highs and higher lows.
This consolidation took the form of a descending channel (marked by red arrows at the highs and green arrows at the lows), which lasted for about four months from June to early October.
Support and Resistance:
The stock consistently tested the support zone near ₹1,230-1,250 (green arrows).
It also faced resistance near ₹1,400-1,450 (red arrows) multiple times during this period.
Breakout:
Recently, the stock has given a breakout above the channel resistance (black trendline) with a sharp spike in volume (seen near the end of the chart).
This breakout signals a potential new uptrend.
Volume Confirmation:
The breakout is supported by a noticeable increase in trading volume, indicating strong buying interest.
Targets and Stop Loss:
Target 1: ₹1,500 (immediate resistance from previous highs)
Target 2: ₹1,600-1,650 (next resistance levels based on prior rally)
Stop Loss: ₹1,290 (below recent support and moving averages)
Rally and Consolidation:
The stock initially had a significant uptrend (seen in April-May), followed by a sideways correction with lower highs and higher lows.
This consolidation took the form of a descending channel (marked by red arrows at the highs and green arrows at the lows), which lasted for about four months from June to early October.
Support and Resistance:
The stock consistently tested the support zone near ₹1,230-1,250 (green arrows).
It also faced resistance near ₹1,400-1,450 (red arrows) multiple times during this period.
Breakout:
Recently, the stock has given a breakout above the channel resistance (black trendline) with a sharp spike in volume (seen near the end of the chart).
This breakout signals a potential new uptrend.
Volume Confirmation:
The breakout is supported by a noticeable increase in trading volume, indicating strong buying interest.
Targets and Stop Loss:
Target 1: ₹1,500 (immediate resistance from previous highs)
Target 2: ₹1,600-1,650 (next resistance levels based on prior rally)
Stop Loss: ₹1,290 (below recent support and moving averages)
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.