KPIT Technologies showed 3.29 per cent growth in yesterday’s business. At the same time, Just Dial saw an increase of 0.58 per cent. Whereas Mind Tree saw a decline of 0.70 per cent. Let us know what should be the strategy in these stocks now.
Sensex-Nifty closed down nearly 2 per cent in yesterday’s trade due to selling in most sectors yesterday. Increasing cases of Corona are showing their impact on the market. Sensex saw a fall of 871, or 1.74 per cent, in yesterday’s trade. At the same time, the Nifty fell 265 points, or 1.79 per cent, to close at 14,549.40.
There were only two stocks in the 30-share Sensex pack which managed to close with a gain in yesterday’s trade. Among these, Asian Paints closed up 1.44 per cent. At the same time, Power Grid closed up by 0.98 per cent. In yesterday’s trade, the BSE Midcap and Smallcap saw a fall of 1.69 and 1.60 per cent respectively.
Market giants are of the opinion that the increasing cases of Covid worldwide have hurt the market sentiment immensely. This has caused a huge setback to global GDP recovery expectations in the year 2021. Fear of a lockdown around the world has caused fear in the market.
Know what is the opinion on KPIT Technologies now and we have Richit Jain of Angel Broking with us to give this opinion.
KPIT Technologies – Hold
The stock is seen forming a higher top higher bottom structure and the formation is still in place. Which further indicates that the stock is going to remain bullish. There is immediate support for this stock at Rs 158. Hold this stock by placing a stoploss below Rs 158.
Mindtree – Book profits
The stock has been in uptrend for the past few months and has given good returns to investors. The share price has gone up by 161.8 per cent. Now this share may have to face registration. However, the long-term outlook of the stock remains good. But it can be seen in the short term. Therefore, traders are advised to make some profit booking in this stock. There is a registration for this stock at the level of 2,000-2,050.
Just Dial – Book Profits
This stock has also received strong returns last year. The stock has gained up to 4 times since the March 2020 low. Now in the near term, the face of correction can be seen in this stock. Therefore, traders are advised to recover profits at the current level. There is support for this stock at 878 and after that at 820 while it may have to face registration around 950.
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