The 16,000 cr. mid-cap IT company, KPIT - Technologies Ltd. is about to give a breakout. KPIT Tech is a fundamentally sound company, firsthand. In the recent few weeks, the share price of this mid-cap stock was trapped in a range shown in the chart below with blue lines. The higher range of this stock is 601. Two technical indicators signal that this range might be broken soon. Firstly, the stock may see Crossovers of 10, 20 & 50 EMA (Moving Average) soon. Secondly, the stock is not overbought as the RSI of the stock is at 52 points (approx). Also, the stock made an Inverted hammer candle at the closing of Thursday, once confirmed this might make the stock more attractive. The target is between 660 - 675. Moreover, a trailing stop loss is recommended.
Also, please note that this information is only shared for educational purposes. Please consult your financial advisor before entering into any trade. This trade might involve the risk of capital loss.
Also, please note that this information is only shared for educational purposes. Please consult your financial advisor before entering into any trade. This trade might involve the risk of capital loss.