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The stock of Kirloskar Industries, whose trend has been up since June last year from ₹1,200, was consolidating over the past week. That is, it was trading in the range of ₹2,190-2,280. However, on Wednesday, the stock broke out of the range, opening the door for the next leg of uptrend. So, we expect the stock to rally on Thursday. It shows a potential to hit ₹2,450 intraday. Also, there is a chance that it could see a minor dip to ₹2,310 before the rally. So, we suggest traders to go long on Kirloskar Industries if the price dips to ₹2,310. Place stop-loss at ₹2,270. Liquidate the longs when the stock hits ₹2,420.
Note: The recommendations are based on technical analysis. There is a risk of loss in trading
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