KPIT Technologies

Yoganand D BL Research Bureau | Updated on December 19, 2020

Investors with a medium term perspective can buy the stock of KPIT Technologies at current levels, going by what the charts foretell. Since March low of ₹34.4, the stock has been on an intermediate-term uptrend. After accelerating in September, the stock encountered a resistance at ₹130 and witnessed a corrective decline, until it found support at ₹90 in late October.

Subsequently, the stock resumed the uptrend and has been on a short-term uptrend since then. Testing resistance at around ₹113 for almost two weeks, the stock breached it by gaining 7 per cent, accompanied by extraordinary volume on Friday. This rally has strengthened both the short- as well as the intermediate-term uptrend for the stock. The weekly relative strength index continues to feature in the bullish zone, backing the uptrend. Overall, the short and the intermediate-term uptrends are intact and the stock has potential to move upwards.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on December 19, 2020
This article is closed for comments.
Please Email the Editor