The hourly momentum indicator has also reached the equilibrium line indicating that the pullback has matured and can begin a new cycle on the downside, said Nagaraj Shetti of HDFC Securities.
Kaynes shares plunge 43% from October peak. Is a tactical rebound on the cards or more pain ahead?
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