Dinesh Rohira
After remaining under selling regime over the last six months form 52-weeks low of 310 levels, Kajaria Ceramics made a strong reversal trend in the recent period to trade in a positive trajectory.
The stock managed to decisively breakout from its crucial resistance of 100-days EMA placed at Rs 433 levels. It took a strong support at 325-315 levels to reverse a bullish trend with minor consolidation and witnessed a positive volume trajectory in the same period to augur positive trend.
The momentum indicator outlined a positive divergent in price with its RSI at 70 levels coupled with MACD trading above its Signal-Line. We have a buy recommendation for Kajaria Ceramics which is currently trading at Rs 449.80.
The author is Founder & CEO, 5nance.com.
Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
