OUR RECOMMENDATION
| CMP# | 576.7 |
| Idea | BUY |
| Buy Range | 571 – 576 |
| Target | 600 – 620 |
| StopLoss* | 545 |
| Duration | 15 – 20 Trading Sessions |
| Potential Return^ | 4 – 8% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 576.7 | BUY | 571 – 576 | 600 – 620 | 545 | 15 – 20 Trading Sessions | 4 – 8% |
# CMP on March 28, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 588.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Headquartered in Delhi, Kajaria Ceramics 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. The company reported a standalone net profit of Rs 65.89 crore for the quarter ended December 31, 2018, compared to Rs 53.11 crore reported during the corresponding period of 2017-18.
| Stock Data | |
| NSE Code | KAJARIACER |
| Sector | Nifty 500 |
| 52W High | 1003 |
| 52W Low | 433 |
| Face Value | 10 |
TECHNICAL OBSERVATIONS (WEEKLY)
- We are witnessing the formation of ‘Higher Highs Higher Lows’ on a weekly scale after many months, which is a positive sign as per ‘Dow Theory’.
- After a consistent downtrend in 2018, the stock price has shifted into upside bounce in December 2018. Since then the stock is moving sharply upwards.
- Overall trend and the broader pattern are bullish and reactive throwback might be temporary in nature.
TECHNICAL OBSERVATIONS (DAILY)
- In the daily chart, last 3 candlesticks have formed bullish formation.
- Momentum indicator like the 14-week RSI has taken support at the 50 levels in the recent correction suggesting that the bulls have an upper hand in the stock.
