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The short-term outlook is bullish for the stock of KPIT Technologies. The 7.4 per cent surge on Tuesday marks the end of the sideways consolidation in place since late October last year. Immediate support is at ₹745. Below that ₹725 and then ₹700-₹680 are the next important supports.
The stock can rise to ₹820 over the next couple of weeks. The upside can also extend up to ₹900 over the next four weeks. Traders can go long now. Accumulate on dips at ₹750. Stop-loss can be kept at ₹720. Trail the stop-loss up to ₹775 as soon as the stock moves up to ₹785. Move the stop-loss further up to ₹790 when the stock touches ₹800 on the upside. Exit the longs at ₹820.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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