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The outlook for Kaveri Seed Company (₹689.6) appears bright. The stock rules at a crucial level. Kaveri Seed faces resistance at ₹732 and a close above it will lift it to ₹852.
While immediate support appears at ₹632, a close below the next base at ₹566 will alter the positive outlook for Kaveri Seed.
F&O pointers: The Kaveri Seed Company August futures added fresh long positions on Friday along with rise in share price, signalling a positive bias. Options are not active, particularly on the put side. Only a few calls (₹680 and ₹700 strikes) are liquid.
Strategy: Traders with a high-risk appetite can go long on Kaveri Seed Company August futures. While the stop-loss can be placed at ₹669, it can be shifted to ₹690, if the stock closes above that level conclusively.
Traders can consider booking profit at ₹732. Those with a high-risk taking ability can even aim for ₹852 levels with trailing stop-loss.
They should bear it in mind that the stock is highly volatile and could dimish the profit or widen the loss within a span of time.
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