Kirloskar Electric share price surges over 11% as lockout ends at Bengaluru unit
Kirloskar Electric Company share price surged 11.5% on Tuesday's trading session following the announcement that the management had ended the lockout at Kirloskar Electric's Bengaluru Rural District unit. Kirloskar Electric share price opened at ₹129 apiece on BSE.
Kirloskar Electric stock price touched an intrday high of ₹135.20 and intraday low of ₹126.30. According to Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One, Kirloskar Electric share prices witnessed a gap up opening.
However, follow up buying is not there and prices have come-off from the morning highs. Also Read: KPIT Technologies share price drops over 5% after a sharp rally; analysts see 42% downside on expensive valuations “Volume activity is huge and closing would be crucial.
Bullish gap left around ₹123 likely to act as support, and if it holds then expect resumption of upmove. On the flip side, morning's open high around 136 is seen as immediate resistance," explained Bhosale.
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