JK Bank after a lot of consolidation between 110-118, and a short dip to below 100 in past few weeks today managed to cross important resistance of 118.50 talked about in the above post and closed at 125 . Going ahead, a gap down area of 128-133 is next key level to watch in terms of resistance. Above that there can be resistances at 160 and 176, and finally all time high of 195.
The overall structure as mentioned in above post is a nice rounding structure These are usually considered to be much stronger structures than the V shaped upmoves that often happen in volatile stocks.
disc; invested, not a recommendation.
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