In the previous session, the market extended its gain in yet another day. The nifty index opened on a positive note and made a high near 17340. Technically, the NIFTY index made a strong positive candle on the weekly chart which indicates that the short-term market will remain positive. Hence, we recommend approaching the markets in a positive way. Use a trailing Stop loss method to protect your profit at higher levels.

Look at the below research report of ‘Stocks to Buy for – Monday, September 06, 2021’before the market opens.

KEI Industries Ltd

In the daily time frame, KEI share prices are moving in the form of the ‘Double Bottom’ pattern. Since 5 trading sessions, prices are moving near the neckline of the pattern, which has now become an important key resistance line for the stock. Any closing above 784 level will confirm the breakout.

We have shown an ADX indicator which indicates a potential in stock. As seen on the chart, +DI is above –DI and ADX value is 27 which shows strength in the trend.

In short, KEI share looks to be positive for the short-term view. Now a closing above 784 will confirm the breakout. As per Fibonacci Projection, we can expect it to reach a target of 834 levels which is 161.8% of Fibonacci levels. This outlook is valid as long as we do not see any closing below 759 level.

Check More Analysis on KEI at: KEI Industries Ltd