Essential Market Moves: Sell KFin Tech, Buy PVR Inox for Promising Gains

Eva Popov -

The Indian stock market finds itself amid turbulent times, with the benchmark indices wrapping up the day on a downward trajectory. This decline comes on the eve of the 50% US tariffs taking effect and a weaker rupee, primarily affecting sectors such as banks, pharma, metals, and realty.

A severe decline in Nifty was observed, breaching below the support level of 24,800. A Senior Technical Analyst, Rupak De, highlighted the dire state of Nifty’s journey as it plunged past the critical 50-day EMA, an indicator of forthcoming selling pressures as long as the index remains below 24,850. De further elaborated, “The RSI now indicates a bearish crossover, hinting at diminished price momentum. The prospects suggest a possible downward correction towards 24,150 or even lower.”

PVR Inox: A Bullish Candidate

A beacon of hope shines through with PVR Inox, presenting a formidable opportunity for investors. The stock’s recent surge above its 200-day EMA underscores a bullish trend, supported by increased trading volumes. With RSI at 68 and ADX signaling robust market conditions, stakeholders may find excellent buying prospects currently at Rs 1,135–Rs 1,145, with expected potential targets of Rs 1,200 and Rs 1,260 in the near term. According to The Economic Times, this upward momentum hints at a trend reversal on daily stock charts.

Devyani International’s Momentum Shift

Now shifting gears to Devyani International, the stock recently demonstrated a significant breakout above its falling trendline resistance backed by rise in trading volumes. Currently hovering above the 20-day EMA and eyeing a reclaim of the 50-day EMA, its RSI firmly holds above 60, showcasing enhanced bullish momentum. This scenario paints a promising picture for a potential target of Rs 185.

Ola Electric’s Rebound

Ola Electric emerges on the radar with a strategic buying window at Rs 50.73, aiming for a 10% upside. After a prolonged downturn, a reversal pattern has formed at Rs 40, driving the stock above crucial EMAs. The expanding volumes coupled with a positively inclined RSI make its case for a potential target of Rs 56 within the upcoming weeks compelling.

KFin Technologies: A Sell Recommendation

On the flip side, KFin Technologies shows signs of slowdown as selling pressures have pushed the stock below its 200-day EMA support. With both volume and RSI patterns tilted negatively, a downside trajectory towards Rs 990 looks probable.

These insights guide investors through a gauntlet of challenges and opportunities in the rapidly evolving financial markets, where strategic timing and careful analysis remain pivotal for maximizing profits.