Tech Query: Lupin, KFin Technologies, KPI Green Energy, Goodluck India
Lupin (₹2,096): The stock has come down sharply after making a high of ₹2,530 in mid-July. The fall this month has dragged the price well below the key support level of ₹2,120. There is a danger of the price falling to ₹1,800 from here.
It is better to exit the stock now and accept the loss rather than hoping for the price to rise back. If you intend to wait, then that may result in a much higher loss.
Because the picture is clearly weak on the charts. I am looking for a suitable entry price in KFin Technologies.
What Happened
What is the technical outlook for this stock? On the other hand, a break below ₹780 will be bearish.
Lupin (₹2,096): The stock has come down sharply after making a high of ₹2,530 in mid-July.
The fall this month has dragged the price well below the key support level of ₹2,120.
There is a danger of the price falling to ₹1,800 from here.
Key Details
It will then drag the price down to ₹675. Such a fall will make it very difficult for the share price to go back above ₹1,000 again.
Any intermediate bounce can face resistance in the ₹2,100-₹2,200 region.
Also, if the price declines below ₹1,800, then there is a danger of the price tumbling towards ₹1,600 or even ₹1,400 over the long term.
KFin Technologies (₹899): The stock is stuck inside a range of ₹785-₹1,005 since March this year.
Why It Matters
Overall, it is a wait-and-watch situation for now. What is the long-term outlook for KPI Green Energy?
Within that, the price is coming down now and can see ₹830-₹820 in the coming weeks.
From a big picture, cluster of resistances are there in the ₹980-₹1,100 region.
What Reports Say
Coverage of the story so far points to:
A sustained rise above ₹1,100 is needed to turn the outlook bullish.
Only then a fresh rally to ₹1,400 and higher levels will come into play.
Continued reporting by BusinessLine as more details emerge
