StockAxis

KPIT Technologies Ltd

IT - Software Services

KPIT Technologies Ltd

IT - Software Services

Swing Trading Portfolio

CMP
Rs. 531.00
Rating:
Buy
Target
Rs. 644.00
Stop Loss
Rs. 475.00
July 20, 2022

Stock Info

BSE
542651
NSE
KPITTECH
Bloomberg
KPITTECH:IN
Reuters
KPIE.NS
Sector
IT - Software Services
Face Value (Rs)
10
Equity Capital (Rs cr)
269.04
Mkt Cap (Rs cr)
14594.05
52w H/L (Rs)
801.00 - 262.00
Avg Daily Vol (BSE+NSE)
1,021,318

Shareholding Pattern

(as on 30-Jun)
%
Promoter
40.10
FIIs
15.99
DIIs
9.00
Public & Others
34.91
Source: Ace equity, StockAxis Research

Price performance

Return (%)
1m
3m
12m
Absolute
17.17
-2.53
98.19
Sensex
7.36
-2.88
6.13
Source: Ace equity, StockAxis Research

Indexed Stock Performance

KPIT Technologies Ltd Sensex
KPIT Technologies Ltd
Source: Ace equity, StockAxis Research

Trend line breakout, bullish view

KPIT Technologies Ltd

Price: KPIT TECH has witness trend line breakout on daily charts, trading with uptrend and making higher lows. The stock has gained 5.26% in today session (20 July2022). The stock had made a base in the zone of at Rs.450 – Rs.465, which ended short to medium term down trend in the stock. The stock has been significantly outperforming NIFTYIT over last week (11 July 2022 – 15 July2022). We expect the stock to continue its outperformance in the coming weeks. The stock has bounced from the support level with increase in volumes which indicates the strength in the counter.

Indicator: The stock is trading above important moving averages 21EMA & 50EMA on daily charts. Bollinger Band (20, 2, S) set up on daily chart has started to slightly expand and currently the stock is trading near the upper band of Bollinger Band indicating the volatility expansion on the higher side. RSI (14) on daily chart is pegged at sub 62.04 levels, indicating the stock has not yet been over bought. The Parabolic SAR is trading below its price action on daily charts reflecting up trend in the stock is likely to remain intact in near term. The DMI+ is also pointing in northward direction and is currently placed around 33.07 levels, well above 25 marks, which shows overall strength is likely to bring in sustained buying from the current levels.

Volume: Price and volume pattern are moving in the same direction which reflects the true movements in the stock. KPIT TECH stock has seen the increased volumes with upward movement in price, which also shows the bullish movement in this stock.

Conclusion: Considering all the above data facts, we recommend buying for medium term. Investor can go long around current level Rs.531 with stop loss at Rs.475 for target Rs.644.