Comments
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.)
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.