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kautilya_k

JK TYRE | NSE | Analysis

Long
JK TYRE&INDUSTRIES (NSE:JKTYRE)  
kautilya_k  
NSE:JKTYRE   JK TYRE&INDUSTRIES
Chart Patterns Technical Indicators Harmonic Patterns JKTYRE jktyres nse nseindia goldencross jktyrelong
8
0
chartpattern indicator harmonicpatterns jktyre jktyres nse nseindia goldencross jktyrelong
Hey guys!

  • JK Tyre has a great setup here. It has been following a strong trend line since mid-march 2020.
  • This trend line helped JK tyre breakout of the Ascending triangle pattern reaching 60+.
  • Currently JK Tyre seems to be forming a bullish pennant signalling a bullish continuation upwards.
  • Adding to that, The 50, 200 MA seems to be forming a Golden Cross on the 4H chart, which will trigger a breakout of the pennant.
  • Moreover, the MACD on the 4H chart is converging bullish.
  • Wait for entry near 60.5-61. Target is 70 - 71 (~ 15%).

Thank you!

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