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# Analysis of KPIT Technologies Ltd Stock Performance

## Stock Price Decline

Shares of KPIT Technologies Ltd have experienced a sharp decline for the second consecutive session in Wednesday’s trade. The stock plummeted by 6.07 per cent to reach a day low of Rs 1,415. Over the course of two days, the stock has seen a decline of 12.78 per cent. Despite this recent drop, the stock has shown a significant increase of 106 per cent on a year-to-date (YTD) basis.

## Technical Analysts’ Views

The opinions of technical analysts lean towards a bearish outlook for the stock. They have identified immediate support levels at Rs 1,380 and Rs 1,365.

Osho Krishan, Senior Research Analyst at Angel One, pointed out that while KPIT Tech is in an uptrend and maintaining position above all major EMAs, the recent profit booking following a vertical rally is indicative of a healthy adjustment. He suggests that the stock has immediate support at Rs 1,365, with a stronger support level at Rs 1,300-1,280.

Jigar S Patel, Senior Manager at Anand Rathi Shares and Stock Brokers, highlighted the pattern of higher-top higher-lows, signaling a well-established bull trend. He also advised considering the recent bearish candlestick and the significant selling volume as a reason to book profit and wait for a meaningful correction before adding longs.

AR Ramachandran from Tips2trades cautioned that KPIT Technologies looks bearish on daily charts, with a strong resistance at Rs 1,624. He suggests that a daily close below the support of Rs 1,380 could lead to a near-term target of Rs 1,204.

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