KAJARIA CE­RAM­ICS

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I had bought shares of Kajaria Ce­ram­ics at Rs 470 con­sid­er­ing it to be a break­out, but the stock re­versed. What to do now?

- S. Mazum­dar

HOLD KAJARIA CE­RAM­ICS WITH A STOP LOSS OF RS 405

Kajaria Ce­ram­ics is cur­rently trad­ing at Rs 484.75. Its 52-week high/low stand at Rs 768/405 made on September 21, 2017 and Au­gust 16, 2018 re­spec­tively. The stock failed to break out of the sym­met­ric tri­an­gle pat­tern ini­ti­ated at its all-time high of Rs 787.55 level on May 10, 2017. Rather, the stock gave a break­down at Rs 680-690 level on Jan­uary 30, 2018, along with 200-day EMA sup­port and, there­after, traded with lower tops and lower bot­toms till its 52-week low. It hit a Doji and gave a big bullish can­dle on Au­gust 21, with vol­ume spurt and the 14-pe­riod RSI pos­i­tive cross­over bounc­ing back from over­sold zone. We sug­gest you to Hold for now and exit at Rs 405

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