* KPIT is struggling to form a high right now
* RSI is showing a lower strength
* Monthly RSI is 76 levels
* We can expect some correction in this stock
* I will give 650 as the new target for now
* It doesn't necessarily mean it will go bearish, it ill simply correct and move up
* Volumes are drying right now
Disclaimer - PLease DYOR, don't take your buy/sell...
📊 Script: KPIT (KPIT TECHNOLOGIES LIMITED)
📊 Nifty50 Stock: NO
📊 Sectoral Index: NIFTY500
📊 Sector: Information Technology
📊 Industry: Computers - Software & Consulting
Cup & Handle Breakout
Key highlights: 💡⚡
📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it.
📈 MACD is giving crossover.
📈 Double Moving Averages is also...
NSE:KPITTECH midcap broke out channel pattern on 2022-09-22 and is in retracement at channel resistance turned as support.
Pros:
Strong fundamentals and financials.
Consistent revenue and profit growth.
-ve net debt.
Consistent dividend yield.
Cons:
Continuous reduction in FII and DII holding.
High PE ratio.
Price above Intrinsic value.
Entry : Enter if price...
KPIT TECHNOLOGIES
Chart Time Frame: Daily
On Daily Basis Time Frame the Stock has given a Good Breakout of ROUNDING BOTTOM Pattern with Super Duper volumes and is on the Upward Trend on the Chart and Company is also Fundamentally & Technically sound and is working on a futuristic values, so one can keep as a Portfolio Stock also.
So as per the Chart Stock...
KPITECH Stock: Breakout happens at daily time frame with High Volume
CMP:664.95
Target: It can go up to 740 to 760 level
Stop Loss at 590
We can go for a buy once retest or buy conservatively
Disclaimer :this is only my analysis as per my knowledge. this is not a call.
Please do your own analysis before taking any trade or ask your financial advisor.
Thanks
