Everest Kanto Cylinder (EKC) Limited
Everest Kanto Cylinder Limited has peaked and is still expanding, it seems like a solid long-term investment.
Please study and understand Everest Kanto Cylinder Limited's weekly chart format. The chart indicates that Everest Kanto Cylinder Limited is a great place to invest between 180 and 185. It has performed remarkably well thus far and has a large upside potential.
Please see the weekly chart for Everest Kanto Cylinder Limited. The stock has climbed and is currently trading above horizontal resistance after breaking out of the 180–185 zone. Everest Kanto Cylinder Limited is currently trading at 190 and is in high demand, per the study. It is anticipated that this growth era will last until about 240–250, as the chart below illustrates.
- Everest Kanto Cylinder Limited has demonstrated sustained growth and achieved a noteworthy milestone at 180–185, making it an excellent long-term investment prospect.
- With room to grow to 240 and 250, Everest Kanto Cylinder Limited seems to be in a solid position.
- Given that the risk-reward ratio is optimal for cash transactions, the optimal time to purchase this stock is between 180 and 185.
- With a target price of 240 to 250, the chart indicates that the stock has broken out of an ascending triangle formation.
Kindly consult the weekly chart that Everest Kanto Cylinder Limited has given. The weekly chart points to demand in the 180–185 price range, a breakout, and horizontal resistance. The increased demand causes the stock in that range to rise.
As the stock has hit a new high, this is a great opportunity to purchase. Please take note of the horizontal resistance and its breach, though. Following the upward trend on the chart as of right now could help the stock reach its targets of 240 and 250.
Everest Kanto Cylinder Limited emerged from the rising triangle, with the pattern's most recent targets falling between 240 and 250. The rising triangle is one of the chart patterns utilized in technical analysis. Price discrepancies create a horizontal line at the swing high and a rising trend line at the swing low. These two lines form a triangle.
Investors may be looking for a long-term purchasing opportunity in the 180-185 level due to the stock's high demand, hoping to profit from any further losses. This might result in a rebound to the 240 and 250 levels, indicating that the risk-reward ratio is good. Use every slump as an opportunity to buy in this stock, which has a significant upside potential. Invest any fall in the company's stock.
Investors may elect to gradually acquire the stock with cash, targeting levels between 240 and 250 and setting a stop loss of 152.
As a trader or investor, I typically look for a Volatility Contraction Pattern (VCP), which is a scenario in which price volatility decreases prior to a significant gain, to allow the stock or instrument to reach large volume and upside with a quick increase and target hit. If you want additional information on VCP patterns, please download the app from the Google Play Store. We also offer a high-precision pattern recognition technique.
Everest Kanto Cylinder Limited's weekly chart displays both resistance and support. Levels are displayed on the spot chart.
|
Everest Kanto Cylinder |
Support |
Resistance |
|
Level 1 |
180 |
240 |
|
Level 2 |
152 |
250 |
Company Profile: Yearly group revenue of more than Rs. 550 Crores, Everest Kanto Cylinder Ltd a prominent maker of seamless steel gas cylinders, was founded in 1978. With well over 2.4 million industrial gas cylinders and 1.1 million CNG cylinders in use, EKC, who started as pioneers in the invention and production of gas cylinders, is now synonymous with safety.
The company's three manufacturing facilities are located at JAFZA in Dubai, Tarapur and Kandla SEZ in India, and 204, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai 400021. CP Industries Holdings, Inc., a wholly owned foreign subsidiary of EKC, is based in the United States. EKC has a long history of success in the domestic and international markets because of its dedication to the highest quality standards.
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