Technical Analysis

Kiri Industries (₹453.6): Buy

BL Research Bureau | Updated on May 22, 2018 Published on May 22, 2018

Investors with a short-term perspective can consider buying the stock of Kiri Industries at current levels. After recording a multi-year high at ₹675 in January this year, the stock started to decline and was on a medium-term downtrend till early May. Nevertheless, the stock found support at a long-term base in the range between ₹400 and ₹410 in early May, which halted the downtrend. On Tuesday, the stock surged 6 per cent and breached its 21- and 50-DMAs.

The short-term outlook is bullish for the stock. It can extend its upmove and reach the price targets of ₹472 and ₹482 in the forthcoming trading sessions. Traders can buy the stock with stop-loss at ₹443.5.

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

Read the rest of this article by Signing up for Portfolio.It's completely free!

What You'll Get

This article is closed for comments.
Please Email the Editor