Comments
The near-term outlook for the stock of Kalpataru Power Transmission is bullish. A strong support for the stock is in the ₹550-₹545 region. The stock fell to a low of ₹551 on Monday, but had risen back sharply recovering all the intraday loss. The strong bounce indicates presence of fresh buyers at lower levels. As such, a fall below ₹545 could be less likely.
Kalpataru Power Transmission share price can test the important resistance at ₹605 in the next two-three weeks. Traders can go long at current levels and accumulate on dips at ₹555. Keep the stop-loss at ₹542. Trail the stop-loss to ₹575 as soon as the stock moves up to ₹585. Move the stop-loss further up to ₹590 as soon as the stock touches ₹595. Exit the longs at ₹602.
(Note: The recommendations are based on technical analysis. There is 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.