SWING IDEA - KPR MILL LTDToday, we delve into KPR Mill Ltd , where a confluence of technical factors suggests a potential swing buying opportunity.
Reasons are listed below :
KPR Mill Ltd recently revisited the critical support at 760 levels, a zone that has historically proven significant. The noteworthy aspect is the successful breach and subsequent retest, signaling potential strength.
Weekly charts showcase a bullish dragonfly doji, signaling a potential trend reversal, while daily charts reveal a bullish hammer pattern, enhancing positive sentiment.
The stock bounced precisely off the 200-day Exponential Moving Average (EMA) on the daily chart, highlighting this level as a robust support.
Continuous formation of higher highs affirms the sustained uptrend in KPR Mill Ltd, reflecting positive market sentiment.
With the stock trading above both the 50-day and 200-day EMAs, there is added strength to the current positive trend.
Target - 861 // 928 // 1050
StopLoss - weekly close below 716
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