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Technical Observations

The stock is in strong up trend forming higher peak and higher trough in all time frame. It has generated a bullish flag breakout signalling continuation of the up trend and offers entry opportunity to ride the next up move

We expect the stock to continue with its positive momentum and head towards | 215 levels in the coming sessions as it is the 138.2% external retracement of the previous decline (| 207- 180) placed around | 215 levels

The share price in the first week of April 2021 has registered a breakout above a rising trendline joining previous major highs of Jan’21 (| 148) and Mar’21 (| 174) highlighting acceleration of upward momentum and robust price structure

The daily 14 periods RSI is at the cusp of generating a bullish crossover above its nine periods average thus validates positive bias

Buy KPIT Technologies Ltd @ 195.00-199.00 TGT 215.00 SL 184.00

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