Wednesday, July 13, 2016

J Kumar Infraprojects Ltd

J Kumar Infraprojects Ltd

J Kumar Infra Porojects looks good at CMP to take long entry. This stock as well looking bullish as per our favorite set up. Stock took support at 200 Weekly EMA and 61.8 retracement of last raise while trending down in a channel ( Green lines). We also can see RSI +ve divergence on weekly charts marked with Red colored lines.

One can buy stock at CMP and hold with strong conviction to see minimum 61.8% retracement (~357) of this fall. Also we observed that BIRLA SUN LIFE ASSET MANAGEMENT COMPANY LIMITED made a bulk deal @ 236/- approximately.

We recommend a buy  with target price of 357 to 380.

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