Can I enter KSCL at current market price?
BUY KSCL AT CURRENT PRICE WITH STOP LOSS OF RS 495 ON CLOSING BASIS.
Kaveri Seed Co. Ltd is currently trading at Rs 597.50. Its 52-week high/low stand at Rs 659.95/Rs 433 made on August 31, 2018 and February 6, 2018 respectively. Considering the daily time frame, after nine weeks of consolidation, the stock had recently given a multiple resistance breakout at Rs 542 and hit Rs 558.70, along with rising volumes. The 14-period day RSI is trading in bullish zone, which is positive for the stock. For the short term, Rs 500-Rs 495 is likely to act as the short term support, while on the upside, the stock is likely to touch the levels of Rs 625- Rs 650 in the near term. Therefore, we suggest you to buy KSCL at the current price with stop loss of Rs 495 on a daily closing basis.