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 the stock price ahead.
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.