KAJARIA CE­RAM­ICS

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I am hold­ing Kajaria Ce­ram­ics bought at Rs 682. What should I do?

- Viren­dra Rathore

EXIT KAJARIA CE­RAM­ICS

Kajaria Ce­ram­ics is cur­rently trad­ing at Rs 671. Its 52-week high/low stand at Rs 787.55/Rs 437.30 made on May 10, 2017 and De­cem­ber 30, 2016, re­spec­tively. Con­sid­er­ing the daily time frame, the stock is cur­rently in the pro­longed cor­rec­tion mode af­ter a sharp rally from Rs 600 to Rs 766. The stock kind of formed a dou­ble top at Rs 766 level and, there­after, it wit­nessed a cor­rec­tion nearly up to half of the prior rally. The fall is sup­ported by higher vol­umes and though the 14-pe­riod RSI is quot­ing at 33 level, it still shows no sign of a re­ver­sal. The stock may fall up to Rs 657 fol­lowed by Rs 635. Hence, we sug­gest you to exit if the next ses­sion also wit­nesses cor­rec­tion.

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