Kirloskar Electric stock has broken out on weekly chart
Here's the weekly chart
As you can see in the chart above: Kirloskar Electric struggled to cross 40 Since Aug 2011. The breakout this time on weekly chart looks conclusive and has come on strong volumes. Now as long as stock holds 38 on closing basis - one can hope for good days in 2016.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication, you agree to make no trade relying in whole or in part on the comments of the writers