Kolte
Patil Developers on daily chart, stock price at Rs. 123.75 has given the
breakout of the downward sloping trend line at Rs.122 level with increase in
volumes, indicate on going bullish rally will continue into the stock price
which will take is towards Rs.139, further Rs. 151 level. Stock price which was
trading below 20 DMA from last 45 days, yesterday price has breached the level
on upside, indicate stock is trading well above the support level. Momentum
oscillator RSI is rising have more room left on upside, MACD has given positive
crossover 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 for the target
of Rs.139/151 level, with Rs. 116 stop loss on closing basis.
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