The short-term outlook for KPR Mill is bearish. The stock has been falling for about a week now. The downtrend is intact. Strong resistance is in the broad ₹930-₹940 region. Any rise from current levels will find fresh sellers coming into the market at higher levels. The price action in the last two trading days also indicates that sellers are capping the upside on every bounce. As such a rise beyond the ₹930-940 resistance zone is less likely.
KPR Mill share price can fall to ₹900 from here. Traders can go short now at ₹922. Add more shorts on a rise at ₹928. Keep the stop-loss at ₹935. Trail the stop-loss down to ₹918 when the price goes down to ₹912. Move the stop-loss further down to ₹911 when the price touches ₹908. Exit the short positions at ₹905.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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