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Published on 31/10/2018 3:48:56 PM | Source: Choice Broking Pvt Ltd

Buy Kaveri Seed Company Ltd For Target Rs.535.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Kaveri Seed Company Ltd #Trading Report #Choice Broking

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*  On a daily Chart, the stock has taken a strong support from it’s horizontal line and given the break out of it’s range bound movement which indicates a northward journey in the counter.

*  Moreover, the stock has confirmed the Bullish Harami pattern which is reversal pattern indicates that the stock could accelerate its upward movement.

*  Furthermore, the stock has managed to sustain above 21& 50 HMA which points out strength in the stock.

*  The daily momentum oscillator “Know Sure Thing” has given a positive crossover which suggest upside rally in the counter.

*  A daily momentum indicator RSI reading is at 44.20level with a positive crossover as well as positive divergence has been seen which points out for a positive breadth.

*  Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions.

 

Recommendation

Buy Kaveri Seed Company Ltd Nov Fut @ 501 Upto 499 Stoploss 484.90 Target 535

 

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