JKUMAR INFR.LTD. stock discussion
JKIL Stock Research Report: J Kumar Infraprojects LtdTechnical Parameters:
Current Market Price (CMP): ₹853
200-EMA: ₹658
Daily RSI (14): 56
Support: ₹811
Resistance: ₹936
Stock Parameters:
Buy Zone: ₹840-₹850
Target 1: ₹1050
Target 2: -
Stop Loss: ₹750
Time Frame: 3-5 Weeks
Technical Analysis:
Breakout from Consolidation: J Kumar Infraprojects Ltd recently broke out of a consolidation phase and reached a new all-time high. This breakout is a strong bullish signal, indicating that the stock has been in a positive trend and may continue to rise.
Retracement: After achieving a new high, the stock has retraced from its upward move. This retracement is a normal part of the price action and provides an opportunity to enter the stock at a more favorable price.
Trendline Breakout: The stock broke out of a falling trendline on the daily time frame, which is a significant technical signal. This breakout suggests that the previous downtrend has ended and the stock is likely to continue its upward movement.
Support and Resistance Levels:
Support: ₹811 – This is the level where the stock has historically found buying interest.
Resistance: ₹936 – The level where the stock may face selling pressure as it approaches new highs.
Recommendation:
Buy Zone: Consider buying the stock within the ₹840-₹850 range. This range provides a favorable entry point following the recent retracement and breakout signals.
Target 1: ₹1050 – This is the primary target, representing a significant potential gain from the buy zone.
Stop Loss: ₹750 – Set a stop loss at this level to manage downside risk in case the stock does not perform as expected.
Time Frame: The anticipated duration for this trade is 3-5 weeks, based on the current trend and technical indicators.