Buy call on Kesoram: Prakash Gaba

Prakash Gaba, CFT, prakashgaba.com, in chat with ET Now, gives his call on Kesoram


ET Now: Is Kesoram from the cement pack looking good enough? Can somebody initiate a buy at the current levels?

Prakash Gaba: Yes, one can initiate a buy on Kesoram, that should not be a problem. The only thing which needs to increase is the timeframe. Structurally it is holding out and needs a breakout and the breakout comes at around Rs 140. If that happens, where does Kesoram go, Kesoram can go to levels of around Rs 175. So hold it for the long term, it is not a day or two or three days’ trade. I like the structure. It just needs a breakout. If an aggressive trader comes he can certainly buy but needs to have a stop now at even below Rs 120 zones. It is a risky buy here but being an aggressive trader, one can buy it here, wait for it, have some patience and take it up to Rs 175.