In this blog, we are going to discuss about Cochin Shipyard Stock. What is the technical chart saying for the next?
There was a big sideways range between 1200 to 1800 for a few months. The stock was consolidated well in between, then we observed a strong breakout above 1800, and the stock moved towards 2550. Then the stock has taken a resistance there, and over the last 2 weeks, the stock is in a profit-booking phase and has fallen to a low around 2080 as of now.
If we look at the bigger picture, then there is a big range of 1900 to 2550, roughly 2600. Now there is an interim support around 2080, if it breaks, then we may see an immediate 70-80 point downfall. A risky player who can hold the stock irrespective of anything can go long, but the stock is only strong above the 2550-2600 price range for any future momentum, probably.
Most probably, it always happens when the stock makes a rally after a huge consolidation for months. The stock gets sideways again for some time. Because stocks can’t, especially quality fundamental stocks can’t move upside all the time. The Cochin Shipyard stock is in momentum due to a lot of positive news; here, only a well-diversified investor can invest with a certain skillset. For level-based investors, it will be good if the stock clears the above-mentioned price range of 2550-2600. We have only done the daily technical chart analysis of this stock.
Below, we have shared the Cochin Shipyard Stock Daily Chart Graphical Presentation
Also Read Our Article on Cochin Shipyard Stock at Business Today
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