KIrloskar Electric is about to break today . If break happens and remains above 126 the price will shot up again . As the price had broken and holded above monthly high .
A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves that subdivide 3-3-3-3-3 and are labeled A-B-C-D-E. A triangle is delineated by connecting the termination points of waves A and C, and B and D. Wave E can undershoot...
My favorite "Necklace Pattern" is getting unfolded in "KECL" on monthly Time Frame. In fact, this Kirloskar Group is seriously re-vamping all its group companies & it's evident in their charts as well!
Referring Monthly TF on BSE Chart since NSE has limited data to study for this scrip.
Cheers!
It has recently broken out of a base in its weekly chart with huge volumes. A good candidate to take long position with favourable risk:reward.
Can can take position with 90.55 as SL
KECL Kiloskar Electric NSE is bullish if 30.5 holds. NEW 52WEEK High. Fresh Breakout. Positive Trend.
Disclaimer: Educational Purpose Only. Not Buy Sell Reco . Not Sebi Registered.
