overvalued stockits an overvalued stock watch for rejection, higher chances for downside go for short with proper risk management
KALYANKJIL trade ideas
buyThe stock on daily charts has broken out of a falling trendline and after good accumulation at the base. The stock is in strong uptrend on all three timeframes - daily, weekly & monthly. The stock is near to its ATH. Near term target can be 360 and if closes above that then, we can target 380-400.
Kalyan JewellersNSE:KALYANKJIL (1D)
CMP 333.70
Sector : Diamond & Jewellery
Industry : Diamond & Jewellery
Market Cap : 34,393.47 cr.
Category : Small Cap
PE : 67.09
Industry PE : 77.84
PEG : 2.80
About Company
The company design, manufacture and sell a wide range of gold, studded and other jewellery products across various price points ranging from jewellery for special occasions, such as weddings, which is its highest-selling product category, to daily- wear jewellery.
Kalyan Jewellers India is one of the largest jewellery companies in India. It started its jewellery business in 1993 with a single showroom in Thrissur, Kerala. It has since expanded to become a pan-India jewellery company. The company endeavour to cater to its customers unique preferences, which often vary significantly by geography and micro market, through its local market expertise and region-specific marketing strategy and advertising campaigns. The company's grassroots My Kalyan' customer outreach and service centre network is another key element of its hyperlocal strategy which enables it to be a neighbourhood jeweller and is focused on marketing and customer engagement across urban, semi-urban and rural areas in India. The company is led by a management team with extensive experience in the jewellery and retail industries and with a proven track record of performance.
Business area of the company
The company design, manufacture and sell a wide range of gold, studded and other jewellery products across various price points ranging from jewellery for special occasions, such as weddings, which is its highest-selling product category, to daily-wear jewellery.
Kalyan Jewellers _ Deja Vu (Similar Opportunity!)
After long bullish rally price corrects around 15% , correction is in form of downward channel, just like it did previously.
As we discussed earlier in spetember the possible two scenarios the price could do, while anticipating possible new highs. Again stock provides the similar situation.
Possible Scenarios:
* Buying Opportunity on break and retest of minor resistance @ 335 (Previously Support).
*If price fails to break above 335 it can further slips till its demand area which is between 300-290.Between that zone we can see good accumulation of orders which could possibly push the price up
Upward targets are 375 and 390 .
Although Higher time frame seems pretty bullish ,but structural shift in lower time frame, from bearish to bullish must keep in mind. Always Trade with more confirmations.
KALYANKJIL - Stock AnalysisThe provided technical highlights for Kalyan Jewellers India Ltd. suggest a bullish sentiment and positive momentum in the stock. Here's a summary of the key signals:
1. Price Volume: Bullish - The recent sessions have shown rising prices accompanied by increasing trading volume, indicating strong buying interest.
2. High-Low: Strong Bullish - The stock has reached a new one-year high, and it's trading with good volume, which is a strong bullish signal.
3. One Day: Bullish - The latest tick shows a strong price rise supported by good volume, indicating positive price momentum.
4. Bollinger Bands: Strong Bullish - There's a positive breakout in the Bollinger Bands, suggesting potential upward movement in the stock's price.
5. Donchian Band: Bullish - The stock has reached a new high, indicating a possibility of a breakout from the current trading range.
6. Daily Candlestick: Strong Bullish - A bullish gap-up candlestick pattern has formed at a high level, indicating strong momentum.
7. Daily Heikin Ashi: Bullish - A bullish initiation Heikin Ashi pattern has formed, further supporting the bullish sentiment.
8. Weekly Candlestick: Strong Bullish - A bullish gap-up candlestick pattern at a high level on the weekly chart indicates strong momentum.
9. Weekly Heikin Ashi: Bullish - A bullish continuation Heikin Ashi pattern is seen on the weekly chart indicating a bullish trend.
10. Monthly Heikin Ashi: Bullish - A bullish continuation Heikin Ashi pattern on the monthly chart suggests a sustained bullish trend.
These technical signals indicate a positive outlook for Kalyan Jewellers India Ltd., with strong buying interest, positive price momentum, and potential for further price increases. However, it's important to consider other factors and perform a comprehensive analysis before making investment decisions.
KALYANI JEWELLERSBreakout trading implementation:
1. **Identifying New Trends:** Breakout trading helps traders identify the beginning of new trends by focusing on price levels where an asset breaks out of its historical trading range.
2. **Volatility Indicator:** Breakouts often occur when there's increased volatility in the market. Monitoring breakouts can provide insights into shifts in market sentiment and potential price movements.
3. **Entry Points:** Breakout points serve as potential entry points for traders looking to ride the momentum of a newly established trend. Buying on a breakout can capture the early stages of a price movement.
4. **Confirmation of Strength:** Successful breakouts indicate the strength of a trend. If an asset breaks out with high volume and follows through with sustained price movement, it suggests a strong trend in that direction.
5. **Avoiding False Signals:** Breakout strategies often include using indicators or confirmation signals to avoid false breakouts. This can enhance the accuracy of trade decisions.
6. **Defined Risk and Reward:** Breakout trading allows for setting clear stop-loss levels below the breakout point, which helps manage risk. Traders can also calculate potential profits based on the distance between the breakout point and a projected target.
7. **Adaptable to Various Markets:** Breakout trading can be applied to various markets, including stocks, forex, commodities, and cryptocurrencies. The concept remains consistent across different assets.
8. **Flexibility:** Traders can adapt breakout strategies to their preferred timeframes, whether they are day traders, swing traders, or long-term investors.
9. **Liquidity Opportunities:** Breakout points are often associated with increased trading volume, which can provide better liquidity for executing trades.
10. **Risk vs. Reward Assessment:** Traders can evaluate the potential risk of a trade (stop-loss) against the potential reward (target price), aiding in decision-making and portfolio management.
11. **Psychological Advantage:** Successful breakout trades can boost a trader's confidence and discipline, reinforcing the effectiveness of their strategy.
12. **Market Events:** Breakouts can occur around significant market events such as earnings reports, economic data releases, or geopolitical developments, offering traders opportunities to capitalize on sudden price movements.
Remember, while breakout trading offers potential advantages, it also carries risks. False breakouts and market reversals can lead to losses. Successful implementation requires a solid understanding of technical analysis, risk management, and the ability to adapt to changing market conditions.
Kalyan Jewellers (Swing Trade)The zone between 217 to 209 would act as an important support area since its in confluence with multiple factors like extreme order block , 0.786 fib retracement level and taking support on 50 ema as well.
Do watch this stock since it have potential to make new highs in upcoming session till T2 and T3 ie. 276 and 290 respectively.
Price also correct more than 17% since its previous high. So we can expect some upward movement in coming days. Trade with confirmation, only if price breaks and close above its trendline ie. 235.
keep in mind if price fails to break above 235 it can consolidate between 209 to 235 range.
or can further slips upto 200 if it breaks below 209.
Kalyan Jewellers Weekly candle Pole Breakout with volumes and closing above Gann box levels.
Looks good for medium term
Kalyan jewellers Pvt has long term itKalyan jewellers Pvt has long term it breaks the trend line it will be bullish movement is occured
KALYANKJIL - Bullish Consolidation BreakoutNSE: KALYANKJIL is closing with a bullish consolidation breakout 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.
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KALYANKJIL | Swing Long | R/R = 5.2> Soon to Breakout
> Volume indication for Breakout exists
> For breakout confirmation it has sustain above 130
> Market conditions not suitable for rapid moves
> Target might need about 10 months
Note: InvestIn10 would ride this till Momentum exists. The Target & SL are for Swing Investors only.
1% Daily gain 🧲Still you are thinking technical analysis is not worth, According to our sources Trendlines must to be follow while analysis of each & every stock 👏
KALYAN JEWELLERS IND LTD Falling Wedge Breakout*KALYAN JEWELLERS IND LTD*
Time Frame: Daily
Observation:
* Falling Wedge Breakout
* Swing High Break
Resistance/Target:105 111 118 122
Support: 93; Dynamic Support of 200 EMA at hourly time frame
kalyan jewellersbreakout with good volume rs is positive rsi > 50 i think it can make 100+ this time festive season coming up after 2 years of covid restrictions
Keep SL according to your risk
Kalyan Jwelars - On weeakly chart formed a DIAMOND patronKalyan Jwelars - On weeakly chart formed a DIAMOND patron. Quarterly sale of TITAN are increased. Also Kalyan Jwelars increase their number of stores globally. rally starts on Diamond breakout.
Forming Gap in Kalyan jewelersThere is a clear formation of Gap in Kalyan jewelers that is why Gap can play strong support.
Buy at CMP with SL at 71.
Kalyanji jewellersBuy for short term target of 20 to 25% from the current market price of 72 rupees
Looking very good on charts
Diwali sale before prices turn expensive!A simple breakout into 70s zone.
Short Term targets: 75, 79
Medium Term Targets: 87, 99
SL: 65 DCB
