KSB Ltd, Stove Kraft: HDFC Securities sees bullish setup on charts

Nifty strategy: Nifty declined for the second straight session, falling 24 points to close at 24,055. The 24,200–24,250 band is likely to continue acting as strong resistance, where multiple moving averages are clustered. A sustained close below 24,000 could drag the index toward the next support band of 23,823–23,890.

A band of 24,200 to 24,250 would continue to serve as a strong resistance for the index, where multiple moving averages are clustered. A sustainable level below 24000 could drag the index towards the next support band of 23,823-23,890.   CHECK Stock Market LIVE Updates

KSB Ltd has broken out from the narrow consolidation that was held for the last three weeks. The price rise is accompanied by a rise in volumes. The stock is placed above the 20 DEMA, which indicates a bullish trend on the short-term time frame. The daily RSI has been sustaining above 50. 

Stove Kraft has broken out from the narrow consolidation which was held for the last ten weeks. The price rise is accompanied by a rise in volumes. The stock is placed above all key moving averages. Daily RSI has been sustaining above 50. The daily MACD is placed above the equilibrium and signal line.