Today’s Pick: KEI Industries (₹1,389.25): Buy

Akhil Nallamuthu |BL Research Bureau | | Updated on: Aug 05, 2022

Broke out resistance at ₹1,350

The stock of KEI Industries has been trading almost flat since the beginning of this year. But on Thursday, it broke out of the resistance at ₹1,350, opening the door for further strengthening. The breakout can lead to another leg of uptrend and that means, the scrip can witness a rally on Friday will likely hit ₹1,490. So, traders can consider initiating fresh intraday long positions on this stock with stop-loss at ₹1,345.

Liquidate the longs when the stock touches ₹1,490. But stay away from trading this stock if it opens below ₹1,345 on Friday. On the other hand, if it begins with a gap-up, wait for a dip to ₹1,390 and then buy.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

Published on August 05, 2022
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