Stock name = Kitex Garments Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Master Score - B
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling...
After the 9 years of price wise corrections finally price break the multiyear resistance and strongly weekly close above the resistance and this type of chart setup may be price continue its upmove .
Techmically Trying to cross resistance 240
if cross 245 rally to 280 expected
recent december quarter is positive
target1 260
t2 280
stop 200
Fundamentals improving
last 4 quargers were not impressive
holding period 20 days
if no momentum exit position.
Purely for education purpose.Not a buy/sell reco
consult an advisor before any taking positions.
Kitex...
If Kitex breaks the key monthly resistance level, we can expect a measured move....You can expect 4x returns, but you will need a lot of patience...I'm already invested and will stay invested till it reached 800+....Happy Investing...
Kitex, the 2nd largest garment supplier to US is forming cup and handle.....Provided it breaks above 200, I'm expecting it reach 700 +....I'm initiating position is this stock and will be buying on dips....It pays dividends too....Invest only 5-10% of your capital only and follow your own risk management....
First thing first, the kitex garments is forming a bullish cup and handle pattern in weekly charts, if it gives a breakout then as per the next upside target will be around 320-340. The SL will also be long somewhere around 110-115. This might be the interesting one in the upcoming time how it will move. As this all are my personal view not a buy recommendation
Daily Time Frame: BREAKOUT
52 Week High BREAKOUT
company does not have excessive debt
second-largest Infants Apparel Manufacturer in the world, intrinsic value 582
caution: earning growth not stable
for education purposes only
Kitex good accumulated at marked level from past 2 to 2.5 year.. Good add in every dips.. any break out above marked will give huge return... Targets mentioned on charts.. sl below 21 ema on closing basis monthly..
Chart is only for learning Purpose only.. ask your sebi registered advisor before entry..
#LearnToEarn
