Here I am sharing my view on KOPRAN LTD (NSE) which is showing bullish bias on the chart. The stock was in downtrend since December 2021 following the downtrend as Lower Highs and Lower Lows pattern but now the stock has broken this pattern and started doing Higher Highs and Higher Lows which depicts the change or trend to uptrend from downtrend.
It has given breakout of downward sloping Trendline in Weekly time frame. All the supporting indicators as showing bullish bias on the chart of which snapshots are given below.
Weekly trendline breakout with good intensity of volume
In Daily Time Frame, Stock has given the breakout of FLAG and POLE Chart Pattern in which we calculate first target as same as the size of pole.
Price at the time of breakout is Challenging Upper Bollinger Band
Directional Movement Index is also showing strong Bullish Bias
Price is Trading above 50DEMA, 100DEMA and 200DEMA
MACD in Daily Time Frame - Positive Crossover
MACD in Weekly Time Frame - Positive Uptick
RSI in Daily Time Frame - Positive uptick and above 60 - a bullish sign
Conclusion- overall stock is bullish on chart, one can enter this stock as swing or positional trade following strict Stop Loss.
Disclaimer- I am not SEBI registered analyst. My studies are for educational purpose. I am not responsible for any kinds of your profits and losses. please consult your financial advisor before investing your money.
@ayuszh yeh it has potential to move upwards….but before investing consult your financial advisor as i share charts for educational purposes… thank you😇
ayuszh
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I asked because, it's mentioned there that this stock is under watch by exchange, (STASM) and Investing in this stock might be risky
@ayuszh, there is nothing without risk in this market.....and if you asking me the duration, there is not any particular duration, if you seeing your profits you may book and the stop loss will be previous low to safeguard yourself from big loss.
KARAN_DINGRA
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@ayuszh check today, it's almost giving 6% a day 🙏