KALPATARU POWER
- According to technical analysis chart no1, Kalpataru Power has formed head and shoulder formation in daily chart and stock is currently facing its neckline and tend line resistance @ 183, Once stock closes and stays above 183 then it will favor bulls for next few trading days.
- Intraday Tips - Close watch once stock starts trading above 183 during trading hours, if holds above 183 then intraday bulls action is expecting.
- Also See - DREDGE CORPORATION has formed doji formation in monthly chart, sharp move expecting in coming days.
- As per chart no2, stock is also facing golden ratio resistance 61.8% fibonacci retracement, and current bull move is also supported by good volumes this indicates bulls having interest in Kalpataru Power. Once sock closes and stays above 183 then looks good as per fibonacci retracement and will next find resistance around 197 its previous top.
- Suggested Reading - Investing in penny stocks.
- Chart no3 shows that stock is moving from 100 DMA , so as long as stock holds above bulls will be favored, once it closes below 100 DMA then stock will show first sign of weakness. Close Watch.
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