KEC on the weekly chart is consolidating in a symmetrical triangle pattern from past three months and the prices are getting squeeze within the triangle pattern.
Prices has witnessed a breakout out of a symmetrical triangle pattern and due to the sharp price surge stock is trading above its 9 & 21 WEMA.
In the lower pane of the chart, the Relative Strength Index (RSI) oscillator which measures the strength of the trend has also given consolidation breakout which is placed at above 55 levels.
The resistance for the stock is placed at 540 levels and support for the current pattern is placed at 420 levels.
Prices has witnessed a breakout out of a symmetrical triangle pattern and due to the sharp price surge stock is trading above its 9 & 21 WEMA.
In the lower pane of the chart, the Relative Strength Index (RSI) oscillator which measures the strength of the trend has also given consolidation breakout which is placed at above 55 levels.
The resistance for the stock is placed at 540 levels and support for the current pattern is placed at 420 levels.