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We recommend a buy in the stock of KSB Pumps from a short-term perspective. The stock has key short-term support in the zone between Rs 176 and Rs 185. It reversed higher from this zone on Monday and has recorded an 8 per cent increase since then. The relative strength index in the daily chart, that is a reflection of the momentum in the stock, has reversed higher from deeply oversold region.
The rate of change oscillator in the daily chart has also moved sharply up from the bearish zone into positive terrain implying positive momentum in the stock.
Traders with short-term perspective can consider buying this stock with stop-loss at Rs 193. The stock can attain the targets of Rs 200 or Rs 202 in the sessions ahead.
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