Here's why Mehul Kothari expects up to 10% rally in KPR Mill, Thermax

According to the technical analyst from Anand Rathi, KPR Mill can rally to Rs 640, while Thermax can surge to Rs 2,400.

BUY

KPR Mill

Buy Near: Rs 600

Target: Rs 640

Stop Loss: Rs 580

Earlier we recommended KPR Mill near Rs 570 and the target of Rs 595 is already met. During the process; the stock has confirmed fresh range breakout above Rs 600 mark.

Also the stock has managed to close well above the 200-day simple moving average and that adds move conviction to the bullish outlook.

Thus, we advise traders to buy the stock near Rs 600 for an upside target of Rs 640 in the coming sessions.

BUY

Thermax

Buy Near: Rs 2,220

Target: Rs 2,400

Stop Loss: Rs 2,120

Since the past few months; Thermax has been consolidating in a broad range of Rs 2,230 - Rs 2,000. At this point in time, the stock is on the verge of breakout from this range.

The positive price action is supported with positive placement of momentum oscillators along with decent volumes.

Thus, we advise traders to buy the stock near Rs 2,220 for an upside target of Rs 2,400 in the coming weeks.

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).