Technical Positional Pick - Buy KPR Mill Limited For Target Rs. 1810 - HDFC Securities
Technical Positional Pick - Buy KPR Mill Limited For Target Rs. 1810 - HDFC Securities
TECHNICAL OBSERVATIONS
* KPR Mill has recently corrected from a high of 1695 touched in early June 2021. The stock found support at the 1490 levels which also corresponds to the 50 day SMA, indicating this is a strong support.
* The stock has been consolidating in a range between the 1490-1600 levels for the last few sessions.
* On Monday, the stock broke out of this range on the back of above average volumes. This augurs well for the uptrend to continue.
* Technical indicators are giving positive signals as the stock is trading above the 20 day and 50 day SMA. Momentum readings like the 14-day RSI too have started climbing, which is a positive signal for the coming sessions.
* With the intermediate and long term technical setups too looking positive, we expect the stock to gradually move higher in the coming weeks and therefore recommend a buy.
* Our entry levels with stop loss and targets have been mentioned above.
Buy KPR Mill Limited Up to 1-3 Months @ Buying Range 1595-1625 CMP 1610 TGT 1810 SL 1510
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