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KOLTE PATIL – CAN WE EXPECT GOOD MOVE AFTER A GOOD CONSOLIDATION

KOLTEPATIL

As we can see on chart that stock has done the good consolidation in past 3 months, and now price showing upside momentum after moving above its 7 months high level.

as per the chart stock has already moved above its long term resistance level near to 75  level, and started consolidation in a range of 75-90 level.

its a development of “SYMMETRIC TRIANGLE” on chart and in last session price able to cross this resistance.

according to the price chart, even rsi also taken a good support on chart and now started to move in overbought zone now.

so overall basic study indicate that buy this stock of price cross 95 level with the stop loss of 70 for target of 110-140 remember that it need close above 95 for confirmation of up move.

 

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