Kelltontech
SWING IDEA - KELLTON TECH SOLUTIONSKellton Tech, a global IT services and digital transformation solutions provider, is showing technical signals that suggest a promising swing trading opportunity.
Reasons are listed below :
Attempt to Break Cup and Handle Pattern : The price is attempting to break out of a classic cup and handle pattern, which is a bullish continuation pattern indicating potential for further upward movement.
115-125 Resistance Zone : The 115-125 level has been a significant resistance zone, tested multiple times. The price is now trying to break through this level, suggesting strong bullish momentum.
Bullish Marubozu Candle on Weekly Timeframe : The recent formation of a bullish marubozu candle on the weekly chart indicates strong buying pressure and suggests potential for further upward movement.
Increase in Volumes : A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest.
Support at 50 EMA on Weekly Timeframe : The stock took support at the 50-week exponential moving average (EMA) and is now bouncing back, reinforcing the overall bullish sentiment and providing a strong support level.
Higher Highs : The stock is consistently making higher highs, indicating a strong upward trend.
Target - 155 // 170 // 185
Stoploss - weekly close below 97
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Kellton Tech: (Swing)Kellton Tech: (Swing)
Kellton is well set to to double in the upcoming days.
Appropriate supply, demand and target zones are highlighted.
Trade offers a RR of more than 1:6.
Check out my earlier views for a better understanding.
Note: Do your own due diligence before taking any action.
Kellton Tech Kellton Tech IT company, shown good move.
It was facing resistance at 110, that was cleared last week. now has made a kind of double top at rs 118, above 118 we may see a spike of 128 which was its ath / 52 wk high.
Above that we may see a fresh leg of rally in this counter.
Company works in AI an cloud sector.
TA on a fundamentally good stock49 has been historically easy to break down,but on the flipside is difficult,so try to enter above 53.
price action is always king.
my call
BUY IF 1D CANDLE CLOSE ABOVE 53
TARGET 65
SL 46
REWARD/RISK=12/7=1.7
ALSO GOOD TO HOLD FOR LONG TERM TOO
KELLTON TECH EQUITY levels ...06/07/2021 (D candle)😊KELLTON TECH EQUITY levels ...06/07/2021 (D candle)
KELLTONTEC - Bullish Head & Shoulder Breakout - Swing TradeThe above analysis is done purely on basis of Price Action & Chart Patterns.
The analysis is done on weekly TF hence price may take few weeks in order to reach the first target and then for final target it may take few months as the target is big.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.
Feel Free to comment or message me for any query or suggestion regarding this stock or Price Action Analysis.
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups.
KELLTONTEC - Buy TradeMultibagger Stock Pick
KELLTON TECH - Buy
CMP 78. Target Rs140
Kellton Tech Solutions Ltd. is an Indian IT, outsourcing and software development company headquartered in Hyderabad with offices in US and Europe
with market cap of around 727cr, trading on a PE of just 10.9, ROCE at 20.7%, Book Value of 46.7, Face value of 5 and has a promoters stake of 55.85% with FII 1.34%.
And why should I buy it ?
1) One of the leading company for digital transformation and integration.
2) Digital commerce & Marketing.
3) Outsource product development.
4) Delever SAP solutions end to end and is a certified SAP gold partner.
5) Internet of things platforms and solutions.
6) Strong presence in US, EUROPE. INDIA, and Asia Pacific.
7) The company appeard four time in the Deloitt technology fast 50 India list.
8) The company is a part of Forbes Asia under a billion top 200 company list.
9) Won the "Integration partner of the year" award in London.
10) They have a very big clienal list from startups to fortune 500 companies, to name few Cococola, Walmart, MAX life, UPS, Novartis, Univision, snapdeal, hatway, Flipkart, KFC, Paytm, Pizza Hut, Religare, Dupont, Makemytrip, policy bazaar, and many more.
11) Kelton recently announced that it has been chosen by ZEE5, India’s Entertainment Super-app, to build a next-generation, cloud-native content management system (CMS) that delivers relevant, real-time content experiences across all constituents of business.
12) Received a contractor $5ml from Food Corporation of India Ltd for implementation and maintenance of HR and management system.
13) Fy19 and 20 were very challenging years for IT companies and despite that the company registered a top line of 770cr, EBITDA 116cr, maintained margins of 15%, and PAT of 71cr. with an EPS of Rs. 7.55
14) Very strong return ratios, last three yrs. ROE track records is 24 to 25%
15) The average multiples for IT sector is around 50 to 60 PE levels, so now we can see how valuation are so attractive for Kellton.
Last and final point which I would like to highlight.
16) They have entered into a new streem which is booming right now, and that's *cryptocurrency trading.*
They have started developing platforms where crypto trading can be performed and is the hot theme running now a days, will develop NFT technologies and on that the trading platforms will be built. The contract which they received is very significant. Big giants are also about to enter in the same field and Kelllton will definitely have an upper edge.
Buy it to Double Your Money.
