Kajariaceramics
BuyClosed abv ATH. Some supply came at higher levels which is quite normal from people who have stuck at previous ATH. RS is positive. RSI is supporting strength. EMAs are sloping up with momentum. Counter has closed abv CML.
Buying can be done in dip around 1010-990 with sl below 964 on DCB for 1120+.
Safe side trade can be done abv 1031 with sl below 980 for target of 1120+
Disc : it's not an investment advice to buy or sell
Kajaria Ceramics Buying oportunity 8% upside..!!Kajaria ceramics is fundamentally strong stock and now looking strong on the chart as well. we can see 8%move in short term. On weekly charts its a clear oversold condition 295 level is a most probable bottom.
Significant volume rise from last couple of days and delivery percentage is 93% as of 26 may.
A double inside bar near the crucial support levelGood probability of an explosive move on either side.
There has been steady but small increase in OI since 26th Apr during which price was mostly declining. Then there was 27% increase in OI on 8-May (378 new contracts), which happened to be a green day. A closer look at volume profile pattern on the futures chart suggests buying near the support (not shown here).
No directional bias considering market volatility. Will be playing by double inside bar entry exit rules for this trade.