Cochin Shipyard Ltd - Breakout Opportunity

5月14日

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.

5月21日

注释

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.

5月23日

注释

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.

5月27日

注释

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月6日

交易结束：到达目标

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