Short Term Opportunity in Kriti Industry

Kriti Industries forming an Inverted Head and Shoulder Pattern at the bottom of the trend. Before this pattern, the stock has been in a long term downtrend where it was forming a Lower Low and Lower High structure.

After that, it has got consolidated for around 2 years and formed a Reversal Inverted Head and Shoulder Pattern.

For the last few months stock has witnessed good buying volumes that indicates the accumulation and buying interest in this phase.

Recently it has broken the neckline with good volumes and moved above the 200MA, this break above of the 200MA is the indication of the shifting to an uptrend.

The shifting of the MACD from negative to positive zone indicates that the momentum in the price is gaining strength.

We are expecting 65-70 level within 3-4 months.