Sensex, Nifty, Share Prices LIVE: The short-term outlook is bullish for K.P.R. Mill. The sock has been moving up gradually over the last one month. A cluster of supports in the ₹1,080-1,050 region can limit the downside.
Moving Average crossovers on the daily chart also strengthen the bullish case. A near-term resistance is around ₹1,155. We see a high likelihood that the stock will breach this hurdle. Such a break can take K.P.R. Mill’s share price up to ₹1,250 in the coming weeks.
Traders can buy K.P.R. Mill shares now at ₹1,122. Accumulate on dips at ₹1,090. Keep the stop-loss at ₹1,040 initially. Trail the stop-loss up to ₹1,145 as soon as the stock goes up to ₹1,160. Revise the stop-loss up to ₹1,170 and ₹1,205 when the share price touches ₹1,195 and ₹1,220, respectively. Exit the long positions at ₹1,240.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)