KEI trade ideas
KEI FOR MOMENTUM INVESTING Here we expect the upward trajectory in KEI to stay in this parallel channel. We predict the price would stay in this channel for maybe 6 months. In case if it breaks it we also have our risk defined. Betting on wires and cables industry. I can say KEI is the must have.
FOR EDUCATIONAL PURPOSES ONLY CONSULT YOUR FINANCIAL ADVISOR BEFORE INVESTING.
Chart of the week. KEI Industries. (13/11/21)I first spotted this chart on 30 August on weekly chart. It was trading at 775. It has hit its first target of 990. After hitting our first target stock has consolidated for weeks and corrected almost 25%. Now again it has given breakout of its 1000 rs psychological barrier on weekly chart. Here I wish to initiate a buy for the target of 1180 or possible 20% upside.
Target - 1187 W.
SL - 910 W.
View - Medium term.
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KEI Industries Short Term ReversalThe stock has reached the lower trend line and might take support and undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 1:1
SL is placed below multiple major support zones and the target is placed based on fundamentals.
Note: Make sure to enter a trade only after Reversal is confirmed, Don't enter during a breakdown.