KPITTECH is in retracement after Channel breakout

KPITTECH midcap broke out channel pattern on 2022-09-22 and is in retracement at channel resistance turned as support.

Pros:
Strong fundamentals and financials.
Consistent revenue and profit growth.
-ve net debt.
Consistent dividend yield.

Cons:
Continuous reduction in FII and DII holding.
High PE ratio.
Price above Intrinsic value.

Entry : Enter if price goes above recent high of 684 with strict SL.


Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.

Profits are not made from following ideas, but by following Risk Management.