strong breakout candidate kronox lab sciences ltdstrong breakout candidate kronox lab sciences ltd
wait for retest and enter with small sl
KRONOX trade ideas
Kronox LabsThe stock appears to have bottomed at the 140s level.
It broke the bearish trend by surpassing the key 160 level, followed by a successful retest.
Currently, it is facing minor resistance around the 180 zone.
A breakout above 180 could pave the way for a new high, potentially targeting the 230+ levels.
I'm not SEBI registered. It is not a financial advice, just an idea.
Base On Base Breakout The stock established a consolidation zone in the ₹165–₹175 range. This period of sideways movement formed a solid support level with reduced volatility and relatively lower volumes, building the foundation for an upward move.
After the initial breakout above ₹175, the stock consolidated again at a slightly higher range, creating a secondary base near the ₹175–₹190 levels. This is a hallmark of the Base-on-Base pattern, where the stock makes a smaller consolidation zone after an initial rally.
The current price action shows a strong move above both bases, closing at ₹210.33 with a massive gain of +26.30% and accompanied by significantly higher volumes. This suggests that the upward momentum has resumed after the second base.
