Short-term trading idea: Kabra Extrusion Technik Limited

Kabra Extrusion Technik Ltd is a leading manufacturer of plastic extrusion machinery in India. In one year, the stock has delivered about 367 per cent returns to its shareholders.  

On the technical chart, the stock of Kabra Extrusion Technik has given a breakout from its pennant-like pattern accompanied by a huge volume. The stock has surged over 7 per cent today and is trading near its all-time high level of Rs 495.90. It has gained nearly 50 per cent returns in just one month. This displays the super bullish mode it is in at present. It is trading nearly 15 per cent above its 20-day short-term moving average. Moreover, the short-term moving averages have a steep upward slope, which demonstrates the strong uptrend that the stock is undergoing. Along with this, the trend indicator ADX is above 50, which suggests an extremely strong uptrend of the stock. Moreover, Elder Impulse System has given a fresh buy signal.   

Considering the price action and volume, the stock is expected to be trading higher very soon.