In the previous session, the market finally took the strong pullback from 15735-15740 levels. The markets opened on a gap up note and maintained its positive gain throughout the day. Technically, the Nifty index formed a strong bullish candle on the chart and closed with a net gain of 417 points. 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 – Wednesday, May 18, 2022’before the market opens.

KEI Industries Ltd.

NSE :KEI   BSE :517569  Sector : Cables

We have posted a daily chart of KEI Stock, formed a Bullish candle on the chart and closed with a net gain of 6.38%. Since price has managed to sustain above Ichimoku Cloud support which suggests positive bias for the near term. In addition, stock prices closed above a long-term trend line support in the previous session. The Relative Strength Index (RSI) on the daily chart is 55.95.

In short, the trend for KEI looks to be positive for now. A throwback can be expected near 1190 levels. If we take projection of Fibonacci retracement then there is a possibility of seeing the target of 1320 levels as long as 1135 levels hold on the downside.

Check More Analysis on KEI at: KEI Industries Ltd.