Foram_Chheda_CMT

Buy KAJARIACER with short term holding target of 580

Long
NSE:KAJARIACER   KAJARIA CERAMICS
NSE:KAJARIACER

After failing to clear multiple tops resistance in the 740-764 zones, the stock witnessed a significant corrective decline. It has attempted to form a potential base in the 501-520 zones and has attempted to reverse. The RSI on the Daily Chart remains neutral but has shown a classical failure swing raising the likelihood of a reversal. The Weekly RSI has moved above 30 from a bottoming out area which is bullish . A bullish candle emerging on the 200-period Moving Average on the Weekly Chart also point towards likely pullback in prices over coming days.

Comments