PATELENG, recently experiencing a significant downturn, is currently hovering around the 56 mark, closely mirroring its 200- day Simple Moving Average (SMA). Despite a recent reversal from a bullish bat pattern, the stock has entered a corrective phase over the past 4-5 trading sessions. Interestingly, during this correction, the size of the downward candles has been relatively small, suggesting a potential alleviation of selling pressure. Consequently, there appears to be an opportunity for investors to BUY within the range of 56-58, with an upside target of 66.
Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturer in India. Company have capabilities across the entire spectrum of Electronics System Development and Maintenance (ESDM) services. They have over three decades of experience in providing Conceptual Design, Process Engineering, Integrated Manufacturing and Life Cycle Support for major players in the Automotive, Industrial, Aerospace and Defense, Outer-space, Nuclear, Medical, Railways, Internet of Things (“IoT”), Information Technology (“IT”) and other segments.
