Technical Positional Pick - Buy Kpr Mill Limited For Target Rs. 538 - HDFC Securities
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Technical Positional Pick - Buy Kpr Mill Limited For Target Rs. 538 - HDFC Securities
* The attached weekly timeframe chart of this textile stock KPR Mill Ltd indicate a larger sideways range movement over the last two months.
* Presently, the stock price is making an attempt to stage upside breakout of the range movement at Rs 485-490 levels. Hence, a sustainable move above this area could have a sharp positive impact on the stock price ahead.
* The larger degree of higher tops and bottoms is intact. The present upmove is in line with the formation of new higher top of the sequence.
* The stock price has been sustaining above the important support of 10w EMA in the last many month. Having bounced up from that support recently at Rs 440, there is a possibility of more upside from here.
* Weekly RSI and DMI/ADX shows positive indication.
* The overall chart pattern of KPR MILL LTD indicate long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Kpr Mill Limited Up to 3 Months @ Add on dips 454 CMP 483.05 TGT 538 SL 440.50
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