SAMKRG Pistons & Rings - Monthly - Long Term Channel - Bullish
SAMKRG Pistons & Rings Ltd. (BSE: 520075) has been trading within a well-defined ascending channel, showcasing a consistent long-term uptrend. The chart highlights key support levels at the bottom of the channel, from where the price has always bounced.
The recent price action and technical indicators suggest a potential for further gains.
Key Points:
1. Ascending Channel: The stock has been moving within a clear ascending channel since 2006. The price recently rebounded from the lower boundary of the channel, indicating strong support and a continuation of the upward trend.
2. Key Support Levels: The chart shows multiple instances where the stock has found strong support at the bottom of the channel. Each bounce from this support level has led to significant upward movements, affirming the reliability of this trend.
3. Relative Strength Index (RSI): The RSI has made higher lows and higher highs in the preceding months and looks to be on an upward trajectory.
Disclosure: Invested at ₹179
Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
The recent price action and technical indicators suggest a potential for further gains.
Key Points:
1. Ascending Channel: The stock has been moving within a clear ascending channel since 2006. The price recently rebounded from the lower boundary of the channel, indicating strong support and a continuation of the upward trend.
2. Key Support Levels: The chart shows multiple instances where the stock has found strong support at the bottom of the channel. Each bounce from this support level has led to significant upward movements, affirming the reliability of this trend.
3. Relative Strength Index (RSI): The RSI has made higher lows and higher highs in the preceding months and looks to be on an upward trajectory.
Disclosure: Invested at ₹179
Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
Nota
6.7% UP today, ~30% UP for the month.
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