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You are here : IndiaNotes >> Research & Analysis >> Companies >> Kaveri Seed Company Ltd. >> Research

Technical Calls: Buy Kaveri Seed Company and Mahanagar Gas

SMC | 08 Aug, 2017  | Follow Author | Add to my Favourites 
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Kaveri Seed Company:

 

The stock closed at Rs697.65 on 04th August 2017. It made a 52-week low at 324.50 on 02nd September 2016 and a 52-week high of 705.80 on 03rd August 2017. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 546


As we can see on charts that stock is trading in higher highs and higher lows and likely to give the breakout of upward moving resistance line. Moreover, it was consolidating in narrow and also forming bull flag pattern, which also shows strength for coming days. Therefore, one can buy in the range of 685-695 levels for the upside target of 750-770 levels with SL below 650.


Mahanagar Gas:


The stock closed at 1026.15 on 04th August 2017. It made a 52-week low at 514.05 on 05th August 2016 and a 52-week high of 1054.95 on 28th April 2017. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 883.80


After listing, stock has witnessed massive upside from 500 to 1030 levels in single upmove. Then after, it was consolidating in the range of 940-1020 for four month and gave the breakout of same in last week, by gained over 4%. Moreover, we have noticed that there is a rise in volume, so buying may continue in coming days. Therefore, one can buy in the range of 1010-1020 levels for the upside target of 1120-1150 levels with SL below 950.


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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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