Kaynes Technology shares slump over 20% in 2 months; should you buy, sell or hold?
Anand James, Chief Market Strategist at Geojit Financial Services, said the two-month, 25% decline in Kaynes Technology shares now appears to be seeking an opportunity to stage a reversal.
- Nov 26, 2025,
- Updated Nov 26, 2025 4:42 PM IST
Kaynes Technology has had a volatile run in 2025, with the stock losing more than 20 per cent over the past two months even as brokerages remain divided on the road ahead.
Brokerage firm JM Financial has turned bullish on electronics manufacturing services (EMS) player Kaynes Technology, upgrading the stock to a ‘Buy’ rating. citing a favourable risk-reward ratio following a recent correction. The brokerage has set a price target of Rs 7,000 on the stock, implying a potential upside of 21 per cent from the previous close.
JM Financial highlighted that the stock has "corrected ~24 per cent from its Oct'25 highs," making valuations attractive relative to the company's growth prospects. While JM Financial factored in an earnings per share (EPS) cut of 4-13 per cent through FY26-28E due to higher depreciation, they believe the current price offers a significant upside.
Nomura reiterated its optimism on the electronics manufacturing services (EMS) player, maintaining a ‘Buy’ call with a price target of Rs 8,478 apiece. The global brokerage believes the stock offers meaningful upside potential of about 47 per cent from its previous close of Rs 5,777.5 apiece.
At last check, shares of Kaynes Technology India were trading 0.47 per cent higher at Rs 5,800 on the BSE, compared with the previous close of Rs 5,772.90. The counter climbed as much as 3.2 per cent intraday to hit a day’s high of Rs 5,960.
Anand James, Chief Market Strategist at Geojit Financial Services, said the two-month, 25% decline in Kaynes Technology shares now appears to be seeking an opportunity to stage a reversal. “Even though the downtrend continues to have momentum, oscillators have plunged to oversold territory, with some showing positive divergence, a the prospects of a swing higher may be considered,” James said.
James further added that failing to clear 6,400 in any recovery attempt — or a direct slide below 5,600 — could open the gates to the June low of 5,317.
However, not all brokerages share the same enthusiasm. Kotak Institutional Equities retained its cautious stance, assigning a “Reduce” rating to the stock with a price target of Rs 6,180 per share. The brokerage lowered its earnings per share estimates by 2–5 per cent. Hitesh Tailor, Research Analyst at Choice Equity Broking, said Kaynes is hovering around ₹5,800 after sliding sharply from its recent peak of ₹7,705. He noted that despite the correction, the broader weekly trend is still intact, with the current downturn looking more like a retracement and a potential accumulation phase.
“It is trading near a strong trendline support at ₹5,700–₹5,900, and a breach below this zone may lead to further retracement. For long-term traders, the ₹5,000 zone, aligned with the 100-week EMA, acts as a crucial support and potential buy-on-dips area. In the short term, the trend stays bearish as the price trades below the 20, 50, and 200 EMAs, signalling continued corrective pressure. Immediate support lies at ₹5,600; a breakdown may drag the stock towards ₹5,250. On the upside, ₹6,100, aligned with the 200-day EMA, is the key resistance, and a sustained breakout above this level would confirm a trend reversal. Short-term traders should wait for a clear breakout and RSI confirmation for an uptrend; till then, avoid fresh buying at current levels,” Tailor said.
“In the short term, the trend stays bearish as the price trades below the 20, 50, and 200 EMAs, signalling continued corrective pressure. Immediate support lies at ₹5,600; a breakdown may drag the stock towards ₹5,250. On the upside, ₹6,100, aligned with the 200-day EMA, is the key resistance, and a sustained breakout above this level would confirm a trend reversal. Short-term traders should wait for a clear breakout and RSI confirmation for an uptrend; till then, avoid fresh buying at current levels,” Tailor added.
Kaynes Technology has had a volatile run in 2025, with the stock losing more than 20 per cent over the past two months even as brokerages remain divided on the road ahead.
Brokerage firm JM Financial has turned bullish on electronics manufacturing services (EMS) player Kaynes Technology, upgrading the stock to a ‘Buy’ rating. citing a favourable risk-reward ratio following a recent correction. The brokerage has set a price target of Rs 7,000 on the stock, implying a potential upside of 21 per cent from the previous close.
JM Financial highlighted that the stock has "corrected ~24 per cent from its Oct'25 highs," making valuations attractive relative to the company's growth prospects. While JM Financial factored in an earnings per share (EPS) cut of 4-13 per cent through FY26-28E due to higher depreciation, they believe the current price offers a significant upside.
Nomura reiterated its optimism on the electronics manufacturing services (EMS) player, maintaining a ‘Buy’ call with a price target of Rs 8,478 apiece. The global brokerage believes the stock offers meaningful upside potential of about 47 per cent from its previous close of Rs 5,777.5 apiece.
At last check, shares of Kaynes Technology India were trading 0.47 per cent higher at Rs 5,800 on the BSE, compared with the previous close of Rs 5,772.90. The counter climbed as much as 3.2 per cent intraday to hit a day’s high of Rs 5,960.
Anand James, Chief Market Strategist at Geojit Financial Services, said the two-month, 25% decline in Kaynes Technology shares now appears to be seeking an opportunity to stage a reversal. “Even though the downtrend continues to have momentum, oscillators have plunged to oversold territory, with some showing positive divergence, a the prospects of a swing higher may be considered,” James said.
James further added that failing to clear 6,400 in any recovery attempt — or a direct slide below 5,600 — could open the gates to the June low of 5,317.
However, not all brokerages share the same enthusiasm. Kotak Institutional Equities retained its cautious stance, assigning a “Reduce” rating to the stock with a price target of Rs 6,180 per share. The brokerage lowered its earnings per share estimates by 2–5 per cent. Hitesh Tailor, Research Analyst at Choice Equity Broking, said Kaynes is hovering around ₹5,800 after sliding sharply from its recent peak of ₹7,705. He noted that despite the correction, the broader weekly trend is still intact, with the current downturn looking more like a retracement and a potential accumulation phase.
“It is trading near a strong trendline support at ₹5,700–₹5,900, and a breach below this zone may lead to further retracement. For long-term traders, the ₹5,000 zone, aligned with the 100-week EMA, acts as a crucial support and potential buy-on-dips area. In the short term, the trend stays bearish as the price trades below the 20, 50, and 200 EMAs, signalling continued corrective pressure. Immediate support lies at ₹5,600; a breakdown may drag the stock towards ₹5,250. On the upside, ₹6,100, aligned with the 200-day EMA, is the key resistance, and a sustained breakout above this level would confirm a trend reversal. Short-term traders should wait for a clear breakout and RSI confirmation for an uptrend; till then, avoid fresh buying at current levels,” Tailor said.
“In the short term, the trend stays bearish as the price trades below the 20, 50, and 200 EMAs, signalling continued corrective pressure. Immediate support lies at ₹5,600; a breakdown may drag the stock towards ₹5,250. On the upside, ₹6,100, aligned with the 200-day EMA, is the key resistance, and a sustained breakout above this level would confirm a trend reversal. Short-term traders should wait for a clear breakout and RSI confirmation for an uptrend; till then, avoid fresh buying at current levels,” Tailor added.