Today's Pick

KSK Energy Ventures (Rs 72): Buy

Lokeshwarri S.K. amp BL Research Bureau | Updated on March 14, 2018 Published on October 09, 2012


We recommend a buy in the stock of KSK Energy Ventures from a short-term horizon. The stock put up a scintillating show on Tuesday, gaining 12 per cent. This move helped the stock move above the resistance at Rs 70 that thwarted its up-move in August and again in September this year.

The higher bottoms formed since the July low has resulted in an ascending triangle pattern in the daily chart that is a bullish pattern. On Tuesday, the stock has also managed to move sharply beyond the congestion formed by its 21- and 50-day moving averages.

Volumes recorded during the session were also very strong. Short-term traders can buy the stock with stop at Rs 71. The stock can move to 74 or Rs 81 in the sessions ahead.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on October 09, 2012
This article is closed for comments.
Please Email the Editor