KAYA
KAYA Ltd - LONG [Healthy retracement and correction]NSE:KAYA
Technical Analysis:
Stock retraced 50% on FibRetracement
ABC correction wave (possibly) completed
EMA 50 support (Daily)
RSI looks healthy in the 40-60 zone
Stock hitting upper circuit today (22 August 2024)
Immediate resistance: 573 to 575
Next Target: 796
Company News:
- Collaboration with consumer goods maker Marico which will exclusively handle sales and marketing of Kaya's products (source: Reuters)
- Positive outlook: New Investor, New CXO appointments, stakes in ME sold and complete focus on the Indian market now (Various sources)
Kaya Ltd Positional LevelsAs per my analysis, NSE:KAYA is now at best level to take entry for positional long. Best level to take entry is 325 with stop loss of only 295 (-30 Points Risk). My expected upside target would be 346, 369,388,407,434,468,511 & 540. This could be very low risk and high reward idea.
Note: This is my personal analysis, only to study stock market behavior. Thanks.