The outlook is bullish for KPR Mill. The stock surged over 4 per cent on Tuesday. The rise has taken the stock well above a key resistance level of ₹688. Strong support is now in the ₹700-688 region. The moving averages on the daily charts are giving out positive signals and strengthens the bullish case. As such a fall beyond ₹688 is unlikely.
KPR Mill stock price has potential to target ₹800 over the next three-four weeks or even earlier than that. Traders can go long now. Accumulate on dips at ₹710. Stop-loss can be kept at ₹680. Trail the stop-loss up to ₹745 as soon as the stock moves up to ₹755. Move the stop-loss further up to ₹770 when the price touches ₹785. Exit the long positions at ₹795.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)