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13 December, 2018 20:33 IST
Rajesh Bhosale on how to trade in Radico Khaitan, Kajaria Ceramics and RInfra
Source: IRIS | 10 Apr, 2018, 05.31PM
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Rajesh Bhosale, Technical Analyst at Angel Broking has recommended trading strategies on Rajesh Bhosale on how to trade in Radico Khaitan, Kajaria Ceramics and Reliance Infrastructure. He gave following rationale for technical strategies:

1. Radico Khaitan
View-Bullish
Last Close-Rs. 371.60

''The stock is in uptrend continuously moving in a higher top higher bottom price formation. On the daily chart after the recent high of 418, the stock prices slipped into a consolidation phase in range 370-300 for the past two months. At the current juncture, prices seem to have resumed the primary uptrend with a bullish breakout seen post-consolidation. The said breakout is supported with above-average volume. In addition, we are witnessing a bullish crossover with 20DSMA crossing 50DSMA from below. Thus, we recommend buying this stock at current levels for a target of Rs 398 over the next 5-10 sessions. The stop loss should be fixed at Rs 357.''

2. Kajaria Ceramics
View-Bearish
Last Close-Rs. 557.05

''Post a sharp fall from the levels of 765 to 535 in last few months; prices witnessed some relief rally which is in line with broader markets. Looking at the daily chart, we sense the prices likely to resume the primary downtrend with crucial trend line support been broken with an increase in volume. Momentum oscillator i.e. RSI failed to sustain above the 50mark and has now slipped below 40mark giving a fresh sell signal with its smoothened moving average. Thus, we recommend selling this stock at current levels for a target of Rs 521 over the next 5-10 sessions. The stop loss should be fixed at Rs 576.'' 

3. Reliance Infrastructure
View-Bullish
Last Close-Rs. 462.90

''On the daily chart, post a sharp fall in the month of January from the levels of 590 the stock prices formed a base on the long-term support around 410 levels. Now at the current juncture, the trend seems to have turned bullish with prices witnessing a range breakout on the daily chart resembling a descending triangle bullish breakout. The said breakout is supported with a good increase in volume. On the daily chart, prices are well above 20DSMA and 50DSMA which indicate short to medium term bullishness in the counter. Thus, we recommend buying this stock at current levels for a target of INR538 over the next 5-10 sessions. The stop loss should be fixed at Rs 440.''

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