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Kaynes shares plunged 43.5% from October peak; potential rebound discussed.
Summary
Kaynes' share price has significantly declined, dropping 43.5% from its October peak, with a recent 12.5% single-day fall. The article discusses potential for further decline based on momentum indicators, but also suggests a possible rebound due to the stock trading below its 200-day SMA.
Key Points
- Kaynes' share price has fallen 43.5% from its October peak.
- Friday saw a 12.5% single-day drop in Kaynes' share price.
- Momentum indicators suggest a risk of further decline.
- The stock is trading nearly 26% below its 200-day SMA.
- Potential contrarian recovery target at Rs 4,541.
Full Article
Kaynes has plunged 43.5% from its October peak, with Friday’s 12.5% drop marking the steepest single-day decline. Momentum indicators remain bearish, signaling a risk of further slide toward the year’s low of Rs 3,825. However, being nearly 26% below its 200-day SMA suggests potential mean-reversion, with a contrarian recovery target at Rs 4,541 and downside below Rs 4,300.
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