JK Lakshmi Cements: It could break either way. Be prepared.Key Zones
Supply Zone (Resistance) represented by the Red Box.
The price has shown a clear rejection in this zone multiple times, indicating strong selling pressure.
Demand Zone (Support) represented by the Green Box.
Historically, this zone has acted as a strong support, suggesting buying interest in this area.
Patterns and Trendlines
RSI (Relative Strength Index): Current RSI is around 40.73, suggesting the stock is approaching the oversold territory, but not quite there yet.
Key Levels to Watch
Resistance: 875 - 900 INR (Supply Zone)
Support: 675 - 725 INR (Demand Zone)
Intermediate Support: 723.10 INR
Possible Scenarios
Bullish Scenario:
If the price breaks above the descending triangle's upper trendline, it could challenge the supply zone around 875-900 INR.
Confirmation would require a strong breakout with high volume.
Bearish Scenario:
A breakdown below the descending triangle’s lower trendline and the support at 775 INR could lead to a drop towards the demand zone around 675-725 INR.
The gap fill mentioned in the chart could be a target area in the event of a breakdown.
Conclusion
The chart shows JK Lakshmi Cement at a crucial juncture within a descending triangle pattern.
Watch for a breakout above the triangle for a bullish move towards the supply zone.
Alternatively, a breakdown below the current support could lead to further downside, targeting the demand zone and potential gap fill area.
Monitoring volume and RSI will be key in confirming any breakout or breakdown.
Overall, traders should keep an eye on these critical levels and patterns to make informed decisions.
DISCLAIMER: EDUCATION PURPOSES ONLY. NOT FINANCIAL ADVICE.
Jklakshmicement
All time high broken and more upside coming.price moved up to new all time highs suggesting an impulsive move to be seen in the coming months.
Also the count is a very premature one as the price can get as bullish as it could.
Not much to update as of now, shall update as the chart develops.
Thanks for reading!
JKLAKSHMI - Stock AnalysisThe technical highlights for JK Lakshmi Cement Ltd. suggest a strong bullish sentiment and positive momentum. Here's a summary of the key signals:
Price Volume: Bullish - The recent sessions show rising prices with increasing trading volume, indicating strong buying interest.
High-Low: Strong Bullish - The stock is near a six-month high and has a strong uptrend, indicating positive price momentum.
Donchian Band: Strong Bullish - The stock is trending up nicely with consecutive new highs, reinforcing a strong bullish trend.
Bollinger Bands: Strong Bullish - There's a positive breakout in the Bollinger Bands, suggesting the potential for further upward movement in the stock's price.
Candlestick / Heikin Ashi Patterns:
- Daily: Bullish - A bullish continuation Heikin Ashi pattern has formed, supporting the bullish sentiment.
- Weekly: Bullish - A bullish initiation Heikin Ashi pattern on the weekly chart reinforces the bullish outlook.
- Monthly: Bullish - A bullish initiation Heikin Ashi pattern on the monthly chart indicates a positive start to the month.
These technical signals indicate a robust bullish outlook for JK Lakshmi Cement Ltd., with strong buying interest, positive price momentum, and potential for further price increases. As with any investment decision, it's essential to conduct a thorough analysis, consider other factors, and manage risk appropriately.
JK Lakshmi Cement - long term bullishStock seems to be getting ready a move higher in wave (iii) of 3 (the most powerful move).
Currently the correction in wave (ii) might have been completed as shown on the chart or could make a lower low to complete the correction.
Break of wave x at 850 would add more confidence to this idea.
Regardless of the shorter time frame, the stock seems to be getting ready to move up in long term.
Thanks for reading!
JKLAKSHMI - Bullish Swing ReversalNSE: JKLAKSHMI is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Disclaimer:
This is for educational purposes only.
JK LAKSHMI CEMENTJK CEMENT day chart it is near at support zone can bounce from the support zone of 750 level. if price comes to this level and hold and trying to give upside then can enter with a very small stoploss. or if it breaks this support then also can enter in downside with a small stop loss.