Stock to Watch for January - Kiri Industires

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Profitable Stock for January - Kiri Industries 
Daily Chart
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Technical Analysis 
Kiri Industries formed wedge pattern on daily chart and it breaks out with high volume. If we draw a trend line from 27 November high, extended to 11 December high and 22 December high then it is an upper trend line of the wedge pattern. The stock was contracting in a narrow range in the past 15 to 20 days and recently it breaks the trend line with good volume. 
It holds perfect support at 68.3 days Fibonacci EMA support on daily chart. On a broad chart the stock is consolidating in a 4th wave of Elliot Wave pattern and a break out will extends the uptrend to 5th wave. We expects a strong up trend in the next 2 to three week and one can hold the position for a period of 1 or 2 month. Buy Kiri Industries between 520 and 550 for the targets 680-730 with stop loss below 490. Intraday Traders can buy the stock for the target of 560-570.

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