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KFin Technologies’ stock has been moving in a sideways trend since mid-September. It was largely oscillating between ₹445 and ₹490. On Thursday, the stock broke out of the resistance at ₹490, opening the door for further upside. We expect the stock to rally especially on Friday. Hence, the stock of KFin Technologies can be considered for intraday buy trades. There is a good chance for the stock to touch ₹530 intraday.
But there could be a corrective decline to ₹495. Considering these factors, traders can go long on KFin Technologies’ stock at the current level of about ₹510. Accumulate more shares if the stock price dips to ₹496. Place stop-loss at ₹486. Book profits at ₹530. In case the stock opens with a gap-up, wait for the price to soften to ₹510 before going long.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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