KITEX – Breakout from ATH

KITEX – Breakout from ATH ⚠️ Risky but Noteworthy
CMP: ₹311
Breakout Zone: ₹296
Structure: Inverse Head & Shoulders (Daily TF)
Trend: Trading above key DMAs
Volume: On the lower side — no strong confirmation yet
Event Risk: Quarterly results approaching

KITEX has shown an aggressive bounce and is now breaking out of an all-time high zone around ₹296. The structure resembles a head and shoulders variant on the daily timeframe. While technically constructive, volume hasn't confirmed yet, which increases the probability of failed breakout or whipsaw.

Another red flag: This stock is known for locking in Upper/Lower Circuits, which can trap liquidity if momentum fades. Plus, with results around the corner, event risk adds another layer of uncertainty.

⚙️ Trade Plan (Not a Fresh Call, but Educational Insight)
🔹 Entry Idea: ₹296+ confirmed close with volume
🔹 CMP at ₹311 — not an ideal R:R for fresh entry without follow-through
🔹 SL (Closing Basis): ₹239.75 (recent base zone)
🔹 Watch for:

Volume pickup

Retest of breakout zone

Price holding above ₹296 for 1–2 sessions

💡 Consider entering with a small test quantity only if you're comfortable with the risks and volatility.

📚 Educational Takeaway
Not every breakout is clean. Watch how price behaves around ATH zones — these are high-pressure areas. Volume and follow-through matter more than the breakout candle itself.
Stocks with LC/UC tendencies and near-term events demand a cautious approach. Your edge comes not from the pattern — but from your patience and trade management.

⚠️ Risk Management Matters
Size your position wisely. No setup is worth oversized exposure — especially when volatility and newsflow collide. Trade only with a plan and discipline.

📌 Disclaimer
I am not a SEBI-registered advisor. This is for educational purposes only. Do your own research and analysis before taking any position.