Technical Analysis

Outlook green for Kaveri Seed

| | Updated on: Jul 30, 2017
3007KaveriSeed_col (2)

3007KaveriSeed_col (2)

3007KaveriSeed_BW (2)

3007KaveriSeed_BW (2)

The outlook for Kaveri Seed Company (₹689.6) appears bright. The stock rules at a crucial level. Kaveri Seed faces resistance at ₹732 and a close above it will lift it to ₹852.

While immediate support appears at ₹632, a close below the next base at ₹566 will alter the positive outlook for Kaveri Seed.

F&O pointers: The Kaveri Seed Company August futures added fresh long positions on Friday along with rise in share price, signalling a positive bias. Options are not active, particularly on the put side. Only a few calls (₹680 and ₹700 strikes) are liquid.

Strategy: Traders with a high-risk appetite can go long on Kaveri Seed Company August futures. While the stop-loss can be placed at ₹669, it can be shifted to ₹690, if the stock closes above that level conclusively.

Traders can consider booking profit at ₹732. Those with a high-risk taking ability can even aim for ₹852 levels with trailing stop-loss.

They should bear it in mind that the stock is highly volatile and could dimish the profit or widen the loss within a span of time.

Published on January 11, 2018

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