Karur Vysya Bank ltd on a daily chart stock price is
making higher high pattern, also its trading above 20 DMA, indicate stock is
well placed above the support level. On a daily chart stock price at Rs. 478.90
is the verge of breakout of downward sloping trend line, any trade or closed
above 479, stock price can rally towards Rs. 520/540 level most likely. Momentum
RSI is rising have more room left on upside, which add more bullishness for the
stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate above Rs. 479 for the target of Rs. 520/540 levels, with Rs
460 stop loss on closing basis.
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