Last Updated : Jan 01, 2019 11:03 AM IST | Source: Moneycontrol.com

Buy Kalpataru Power, target Rs 430: Nandish Shah

The stock price closed at a six month high on Monday and is now on the verge of breaking above its 200-day SMA which is placed at Rs 394 levels.

Moneycontrol Contributor @moneycontrolcom

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Nandish Shah

After taking support around 20-day SMA last week, the Kalpataru Power broke out from the consolidation by closing above the 390 level with a rise

in volumes.

The stock price is making higher top and higher bottom formation on the daily chart. The stock price closed at a six month high on Monday and is now on the verge of breaking above its 200-day SMA which is placed at Rs 394 levels.

Oscillators and momentum Indicators like RSI and MACD is showing strength on the daily charts. Therefore, we recommend buying Kalpataru

Power for the target of Rs 430, and keep a stop loss below Rs 370.

Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Jan 1, 2019 11:03 am