KPIT has given a strong breakout after a formation of cup & handle patter. It continuously consolidate for short range and gives breakout which indirectly formed a HH & HL pattern on chart.
Now after making a ATH of 1640 it retrace for 3 weeks and formed inside candles.
Now it has given a volume breakout and closes above previous two week price levels.
A buy...
NSE:KPITTECH
GOOD ONE ! Enter at EOD !
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
Sector Leader : NSE:CNXIT
Relative strength compared to Nifty 50 - NIFT IT clear outperformer since Jan 2023. Remember Nifty 50 is on downtrend while IT is on uptrend.
Now look for stocks which have better chart pattern than NIFTY IT. Some examples. These are going to perform better once NIFTY 50 turn positive
1) NSE:PERSISTENT
2) NSE:KPITTECH
3)...
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...
Chance to bounce once it touches the trendline
Disclaimer :
Trading is never ever recommended. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades. I MUST not be held responsible for any profit or loss out of any trades you take. All Disclaimers Apply.
KPIT Technologies
Suggestion for Long term Holding
Uptrend -Daily RSI - 66 & Weekly - 68
Good support Levels - 373.45 & 383.80
Once the Above levels are broken we can see 400 - 410 levels.
Long terms Holding - 6 -9 months - 550 -650 levels
Do Add on Dips :)
Like & Follow
