INSUBCONTINENT EXCLUSIVE:
Nagaraj Shetti of HDFC Securities has a buy call on KPIT Technologies with a target range of Rs 238-245.
The current market price of KPIT
Technologies is Rs 220.70.
Time period given by the analyst is two weeks when KPIT Technologies price can reach the defined target
Nagaraj Shetti recommended keeping a stop loss at Rs 199.
"After showing a sharp decline during mid-September to the early part of October
2018, the stock price has shifted into an upside bounce in the last three weeks
The underlying downtrend seems to have reversed, as the stock price is forming a new higher bottom at Rs 205 levels
The overall chart pattern is looking positive and a momentum oscillator like daily and weekly RSI is showing further upside possibility in
One may look to buy this stock at CMP (Rs 218.20) and add more on dips down to Rs 210
Hold for the upside target band of Rs 238-245 over the next 2-3 weeks, with a stop loss at Rs 199," Shetti said.
KPIT Technologies,
incorporated in the year 1990, is a midcap company (having a market cap of Rs 4,323.25 Crore) operating in the Information Technology sector
