K.P.R. Mill Limited (KPRMILL) Stock - Complete Technical Analysis - Nov 29, 2024

K.P.R. Mill (KPRMILL) Stock Analysis Technical Indicators, Price Targets & Investment Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. K.P.R. Mill Limited (KPRMILL) is currently trading at 978.80, showing an impressive 37.86% gain from its 52-week low. The technical indicators suggest the stock is in a bullish phase, with key patterns like the bullish engulfing and morning star providing strong buy signals. The stock's price action shows an upward movement, having surged from an opening of 943.05 to a high of 985.00 today, reinforcing the bullish trend.

The Average Directional Index (ADX) reading indicates a weak trend, but the Relative Strength Index (RSI) at 61.31 and the Stochastic RSI at over 80 are both signaling that the momentum is positive. The stock is trading above its short-term exponential and simple moving averages, providing support for further price gains.

KPRMILL is currently facing resistance near 985.00, with potential to break higher if this level is surpassed. A pullback to the 940.00944.00 range could present a buying opportunity for traders.

While the stock is trading at a relatively high P/E ratio of 50.6, its solid fundamentals (ROCE: 18.8%, ROE: 16.3%) and strong technical signals suggest continued bullish potential. Traders should focus on key levelssupport at 940.00 and resistance at 985.00while keeping an eye on the broader trend.