Clear break out in Stove craftThis stock seems to have break out with good volume. Will be interested for the ones who like break out stocks :) I have kept long stop loss just to beat the fake outs. Fingers crossed!
STOVEKRAFT
#SYMPHONY #BAJAJELEC #CROMPTON #PGEL #WHIRLPOOL #IFBIND #NIFTY50#SYMPHONY
NSE:SYMPHONY
CMP: 929.20
TP: 1090 // 1175
SL: 868
TF: <6m
RR > ~2.6 times
Return > ~17%
SYMPHONY
BAJAJELEC BUTTERFLY CGPOWER CROMPTON PGEL WHIRLPOOL IFBIND STOVEKRAFT TTKPRESTIGE
Factors: BULLISH WEDGE BREAKOUT Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming. If you like my work KINDLY LIKE SHARE & FOLLOW this page for free Stock Recommendations. With 💚 from Rachit Sethia
Expensive still Stove Kraft can be a long term investment ideaEntry in Stovekraft can be taken after a closing above 700. Targets will be 741 and 800. Keep a stop loss at closing below 638. Stove Kraft is a company manufacturing home appliances. Negatives of this company are expensive valuation as the stock trades at a PE of 43.8. Increasing pledging of promoters and declining cash flow. Positives of the stock are that Stove Kraft Ltd. is a company with low debt and book value of the share is increasing since last 2 years.
STOVE KRAFT, AGAIN TOUCHED THE TREND LINEi am waiting for a breakout by stove kraft, but it touched its major downtrend line, and now its gainig momentum(since, there are larger bars in the volume).
by the way, if you look the trend line from its IPO time(drawn in larger black line), the stock is sitting at the least point(support line), so if you are waiting for a breakout or not, you can still buy the stock, and earn till it reached its resistance line.
STOVEKRAFT: 15-20 % Rally on the wayWait for up-side breakout of sideways consolidation.. previously we seen 30-35% rally, so we may predict around 20% upside on breakout.
