Stock Tips: This stock rose 14% in just 4 days, it can make good profit even further

Stock Tips: Kalpataru Power Transmission Limited’s stock is bullish and has gained more than 4% on Wednesday. Simultaneously, it has given a breakout from its falling trendline with heavy volume. The stock is up nearly 14% in just four trading sessions. With today’s strong price action, the volume recorded is higher than the 10-day, 30-day and 50-day average volumes, thus indicating large trading activity.

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Several technical indicators point to a bullish trend in the stock. The 14-period daily RSI has entered a bullish zone, while the MACD histogram is gaining momentum. Interestingly, the OBV indicates a good strength in the stock from a volume perspective.

7 percent return in one year
On a YTD basis, the stock has given a return of around 7% and has outperformed the broader market and most of its competitors during this period. Considering its pattern breakout, bullish technical parameters and recent performance, the stock is expected to trade higher in the coming days. It has the potential to test the Rs 415 level, followed by the Rs 425 level in the short to medium term. However, a fall below Rs 390 will negate the outlook.

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