Technical Pick – KPIT Technologies Limited
• KPIT Technologies is finding support at 121 and resistance above 125.
•On Daily chart, KPIT Technologies is showing breakout point above 125 level.Break and sustain above 125 will see nonstop rally till 130--135++ in weeks to come.
•KPIT Technologies has been trading in a broader range of 104--147 for last one year.
•Daily 14 period RSI has turned up from near levels and is trading above 61 which indicates it the stock is turning bullish.
•Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 130--135+++mark in coming weeks.
For positional trade, stop loss seeing below 805 on closing basis which in unlikely to breach in near terms.
Trading Recommendation
Buy KPIT Technologies above 125 and for the initial upside target of 130--135++ mark with stop loss below 121 on closing basis.
More will update soon!!
