Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Triangle
📌 Symbol/Asset: KAVERI SEED
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately
Kaveri seed Company (1D)
CMP 573.90
Formed 3 time Volatality Compression pattern and consolidating near high
Sector : Agriculture
Market cap 3,211.87 cr.
PE 11.83
PEG 1.29
Higher Delivery Quantity
Close within 52 week High Zone
MFI >50
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
A perfect visible head and shoulder on Kaveri Seeds. Both on the weekly and the Monthly suggests that the Daily cycle low may retest 480 / 450 following the decending regression trend.
However, how many a times have we witnessed a false head and shoulder formation ? With the probability of an H&S being 80%
I would be cautious If it breaks above the regression equilibrium
Fundamentally very strong stock.
Have been trending inside a macro triangle and the price is inside the squeeze zone.
On a 4H timeframe, a cup and handle pattern is forming.
A breakout from the diagonal of the triangle will send the price to a high momentum ride
T1 at 600-610 INR
T2 at 725-750 INR
let's wait out for the breakout and restest.
Trade setup:
Monthly - Classic breakout pattern. Broke out of ascending triangle, multi-year breakout of trend line, retest and zoomed up. Took support at 50EMA (confluence).
Daily / Weekly - broke out of resistance zone (between 680 INR and 710 INR), retest and formed a bullish engulfing candle (daily), with pennant formation (daily).
Entry price = 745 INR
SL =...
