Comments
Investors with a short-term perspective can buy the stock of KEC International at current levels. After an intermediate-term downtrend from the 52-week high of ₹153 recorded in early July 2014, the stock found support at its long-term base level of ₹85 in December. Subsequently, the stock changed direction and started trending upwards. Since then, the stock has been on a budding short-term uptrend.
On January 30, it surged over 3 per cent with good volumes, breaking through an immediate resistance at ₹92 as well as the 21-day moving average. Reinforcing the bullish momentum, the stock advanced almost 2 per cent surpassing its 50-day moving average on Monday. The daily price rate of change indicator is featuring in the positive territory implying buying interest. The stock can extend its ongoing rally and reach our price target of ₹100 and then ₹102 in the upcoming sessions. Buy the stock with a stop-loss at ₹94.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.