Top trending stock: Adani shares slipped, this stock became hero, bumper return of 35% in one year – top trending stock: kpit technologies stock jumped 3 percent today

New Delhi: After climbing the market on Wednesday, the market closed with a red mark on Thursday. Even after the fall in the market, KPIT Technologies has seen a gain of 3 percent. The stock of KPIT (NSE Code – KPITTECH) has initially seen a gain of 3% in the opening trade from the market. With this rally, KPIT shares have become today’s top gainer. KPIT Technologies has been the top gainer on the Nifty 500 stock. Strong buying interest has been observed in service based stocks. It touched its all-time high of Rs 830 on the NSE.

Technically, the stock remained on a breakout from its 56-week cap and handle pattern with average volume. The volume remained higher than the last 10-day and 30-day average volumes, which strengthens the buying sentiment in the stock. Active volume is showing signs of 52-week highs. Meanwhile, the 14-period RSI (74.84) ​​is in the super bullish zone and indicates strong upside momentum in the stock. The 14-period ADX (30.22) shows rising trend strength. The stock is bullish on all time frames as per Guppy’s MMA criteria. That is, overall the stock has produced a bullish technical setup and higher trend is expected as per the technical analysis.

If we look at the record of last one year, this stock has given a return of 35%. The stock has given 35 per cent return to its stockholders. In the medium term, Rs 900 level can act as a strong resistance, after which the stock can see further upside momentum. Meanwhile, Rs 730 level may act as an immediate support. Momentum traders should keep a close watch on this stock for the upcoming trading sessions.
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