JKumar Infraprojects - 3yr Breakout Retest

7 ก.ค. 2021

JKIL has broken out of a key long term S/R level at 172. Been consolidating and taking support at 172 for 6 months. The consolidation range being 172 to 206. Over 2 yrs, it has been accumulated and offloaded equally on big volume bars. This time around, the time seems to be ripe for a breakout, as many real estate stocks are setting up nicely. First target would be 258. Next would be 348.

SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA
TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis)

BUY GUIDANCE:
Never ever buy before 3PM. I have been burnt many many times. Try to buy between 3:15 - 3:30PM, later the better.

SELL GUIDANCE:
Selling in Profit:
Sell earlier in the session when the prices are higher, around 11AM.

Selling at SL:
Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM.

Note: I reserve the right to be wrong.

DISCLAIMER:
I am not a SEBI registered analyst. Please consult your financial advisor before investing.