KAJARIACER, a ceramic industry company and part of Nifty 500 index, has been a powerhouse stock in a strong bullish trend until October 2021.
The stock's historical monthly chart reveals an astounding 14,405% return from Rs. 8 to Rs. 1365, spanning from 2007 to 2021.
After reaching its peak, the stock entered a consolidation phase that persisted from October 2021 until BEFORE yesterday.
However, yesterday marks a significant breakthrough for KAJARIACER as it breaks out of the consolidation pattern with substantial volume.
The stock opened with a gap up today, and the weekly bullish candle indicates minimal selling pressure and robust buying activity, making it an excellent candidate for a potential buy entry.
Disclaimer: This analysis is solely for educational purposes and does not make me a SEBI registered analyst.
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注释
🔍 KAJARIA CERAMICS (NSE:KAJARIACER): On July 20, 2023, I noted a breakout when the price hit 1463. It surged to around 1523, but here's the exciting part - there's another opportunity!
But first, let's break down the technical analysis and key terms so even new traders can join the ride.
The Big Picture: HTF (Higher Time Frame) 📅: On the monthly chart, KAJARIACER is testing a support level that was previously resistance. This could be a retest of the breakout. HTF provides the bigger picture.
ITF (Intermediate Time Frame) 📆: Zooming in on the weekly chart, it's clear - the stock is in an uptrend. ITF helps us identify the overall trend.
LTF (Lower Time Frame) ⏳: On the daily chart (our execution frame), we spot something interesting. The stock is chilling on its demand zone. LTF is where we execute our trades.
🔝 Top-Down Analysis: No supply zone in sight on the higher time frame, Up trend In ITF, strong Leg-out candle formations in LTF, and a juicy risk-to-reward ratio of 1:3. Here's the plan:
- Buy around 1336. - Set a stop-loss below 1312. - Target at least 1410.
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📚 This analysis is for educational purposes only, and I'm not a SEBI registered analyst. Trade responsibly.