Cup & Handle Formation.Cup & Handle Formation.
170 - 174 is the Resistance Zone.
Targets can be around 200 - 205.
On the flip side, If 145 is broken,
we may witness further Selling Pressure.
KSBP trade ideas
Good Support168 - 172 is a Very Strong Support Level.
However, 176-177 is an Important Resistance
on Weekly Basis.
Weekly Closing above 170 would be a Positive Sign.
Monthly Closing above 169 - 170 is Important.Immediate Support is around 160 - 164
and in worst case, we may witness 148 -152.
as mentioned earlier, 164 - 169 is an Important
Resistance area that needs to Sustain.
Now monthly Closing above 170 would be a positive sign.
Hidden Bullish Divergence appeared.Hidden Bullish Divergence appeared.
Breaking Out a long Consolidation Box around
145 - 149.
164 - 169 is a Strong Resistance zone.
If this Level is Sustained, we may witness
200+
However, if 135 - 136 is broken, more Selling
Pressure will be witness & it may drag the price
towards 113 - 115.
Long KSBPBreak out:
* EMA 200 Monthly and Weekly chart
* Daily cup and handle
RSI: positive
MACD: positive
Targets:
TP 1: 185
Tp 2: 201
Support:
S1: 154 closing
S2: 142: closing
KSBP is BULLISH on LONGTERMKSBP is BULLISH on LONGTERM:
KSBP should retrace back to buying zone and then ride for a long term upward movement towards 200+ in coming year.
If it does not retrace towards buying better to leave it on the ride, all alone.
Very Good VolumesVery Good Volumes in last couple of days.
Ascending Triangle formation;
Initial Resistance is around 148; important to
sustain level once it crosses.
a Very Strong Support can be around 130 - 134
& then around 115 - 120
