| CP# | 536.05 |
| Idea | BUY |
| Buy Range | 515 – 530 |
| Target | 560 – 570 |
| StopLoss* | 500 |
| Duration | 12 – 15 Trading Sessions |
| Potential Return^ | 4 – 6% |
| CP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 536.05 | BUY | 515 – 530 | 560 – 570 | 500 | 12 – 15 Trading Sessions | 4 – 6% |
# CP – closing price on Nov 29, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 548.
^ The returns are calculated based on CP#
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COMPANY OVERVIEW
Headquartered in Delhi, Kajaria Ceramics Limited is the largest tile and floor manufacturer in India having 8 operational plants and markets its products through Kajaria Eternity World, Kajaria Galaxy, Kajaria Prime Plus Showrooms and other multi-brand dealers. Its production includes ceramic wall, floor tiles, polished vitrified tiles, glazed vitrified tiles, adhesives for ceramics and sanitary ware and faucets. This tile manufacturing company reported a consolidated net profit of Rs 93.07 crore for the quarter ended September 30, 2019, compared to Rs 50.63 crore reported during the corresponding period of 2018-19. Net profit was improved by 84% Y-o-Y.
| Stock Data | |
| NSE Code | KAJARIACER |
| Sectoral Index | Nifty 500 |
| 52W High | 649.65 |
| 52W Low | 417 |
| Face Value | 1 |
TECHNICAL OBSERVATIONS (WEEKLY)
- As we see in the Weekly chart, the long term trend is positive since October 2018. There is a steady support baseline which is moving upwards along with price rise.
- The recent low of ₹ 507.1 also corresponds to previous intermediate lows on the Uptrend line, which were tested previously as shown in the blue arrow mark, thereby making it strong support.
TECHNICAL OBSERVATIONS (DAILY)
- The stock has posted a decisive close above 5 EMA and 9 EMA crossover on daily charts.
- After the strong breakout rally in Mid-September 2019, the stock has taken Support on the earlier resistance which is around 506. This highlights the change of polarity principle and signals a higher base building process that will act as a launchpad for the next up move.
- The momentum oscillator RSI (14) also gave trendline breakout and moved above 50 mark on the daily time scale, showing strength in the counter. RSI has also formed positive divergence.
CONCLUSION - KAJARIA CERAMICS SHARE PRICE FORECAST
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Kajaria Ceramics, the largest tile and floor manufacturer in India has closed above 5 EMA and 9 EMA in the daily chart. Not only that, there are few other factors which consider it a good Buy. The complete step-by-step analysis is here:
— Goodluck Capital (@CapitalGoodluck) December 2, 2019
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