Kaveri Seeds Breakout from Multi Year Resistance

2021년 7월 4일

Kaveri seeds has recently broken above a resistance at 690 odd which had acted as a strong resistance on a monthly closing basis in the past five years. Any attempt to close above this level was met with heavy selling. The same level has earlier acted as a support which when broken in 2015 started acting as a resistance. A classical Technical Analysis concept with respect to support and resistance. Now back to the stock, having broken and closed above the mentioned resistance, stock now seems poised to revisit its all time highs of 1075 where it should ideally find the next zone of selling. Buying is recommended with a stop loss at 675 and for the target of 1075 odd. Duration should be around 6 months.