Technical Overview:
1. Breakout and Retest of Ascending Triangle:
JTEKTINDIA's weekly chart displays a compelling technical pattern, namely an ascending triangle. The recent breakout followed by a retest of the upper trendline signifies potential bullish momentum. The ascending triangle is typically a continuation pattern, suggesting the likelihood of an...
The stock had witnessed a five wave impulsive rise in March 2023 which went on till Aug 2023.
The impulse drove the price of the stock up by 76% from March bottom.
This phase was then followed by a three month long correction(zig-zag or ABC) leading to a 50% retracement of the gains made during the impulsive wave.
Now that the corrective phase is over, the stock...
JTEKTINDIA Technical Analysis in daily time frame.
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
JTEKT India is a subsidiary of JTEKT Corporation, a global leader in the automotive and industrial machinery industries. The company has been operating in India since 2001, and is headquartered in Bangalore. JTEKT India provides a wide range of products and services, including automotive parts, industrial machinery, and engineering services. The company has over...
Taken support twice at 97.
Buy between 97 - 99.
Tgt 123 - 139.
SL 85 (small SL can be 90)
this stock is expected to move up.
Please correlate yourself also on charts. this is for educational purpose only. must consult with your financial advisor before investing.
NSE:JTEKTINDIA
Notice the idea here is to clarify that patterns do work, but how to understand the history is much more important, this chart literally screams back at you to go for the trade...
