Kaynes Technology, MTAR Tech, Dixon Tech shares fall; check outlook, support zones, strategy

Shares of Kaynes Technology India Ltd, MTAR Technologies Ltd and Dixon Technologies (India) Ltd were trading lower in Monday's trade. At last check, Kaynes was down 4.33 per cent at Rs 3,130.95, while MTAR slipped 0.78 per cent to Rs 7,174. Dixon was down 2.12 per cent at Rs 10,745.90.

Technically, all three stocks appeared 'bearish' on charts. A few analysts said support for Kaynes could be seen in the Rs 2,948-3,000 range, while MTAR may find support at Rs 6,600-6,763 and Dixon at Rs 10,100-10,500.

Kaynes Technology

According to AR Ramachandran, Sebi-registered research analyst at Tips2trades, "Kaynes Technology's stock is bearish but also oversold on daily charts with next support at Rs 2,948. Investors can buy only if a daily close is above the resistance of Rs 3,430 for an upside target of Rs 4,178 in the near term."

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, stated that support is seen at Rs 3,000, while resistance is placed at Rs 3,425. A decisive move above Rs 3,425 could push the stock towards Rs 3,600, with an expected short-term trading range between Rs 3,000 and Rs 3,600.

MTAR Technologies

"MTAR Tech's stock price is bearish on daily charts with strong resistance at Rs 7,585. A daily close below the support of Rs 6,763 could trigger a fall towards Rs 5,700 in the near term," Ramachandran stated.

Patel said support is seen at Rs 6,600, while resistance is placed at Rs 7,300. A decisive move above Rs 7,300 could push the stock towards Rs 7,500, with an expected short-term trading range between Rs 6,600 and Rs 7,500.

Dixon Technologies

"Dixon Tech's stock is bearish on daily charts with strong resistance at Rs 11,360. A daily close below the support of Rs 10,500 could trigger a fall towards Rs 9,630 in the near term," Ramachandran said.

Patel noted that support is seen at Rs 10,100 for Dixon, while resistance is placed at Rs 11,500. A decisive move above Rs 11,500 could push the stock towards Rs 12,000, with an expected short-term trading range between Rs 10,100 and Rs 12,000.