KIOCL shares surge 24% in 3 days; here's what tech charts hint at

Shares of state-owned KIOCL Ltd registered a stellar upmove on Wednesday, extending their winning run for the third straight session. The stock jumped 15.75 per cent to settle at Rs 360.15. At this closing price, it has zoomed 23.89 per cent in three trading days.

The scrip witnessed heavy trading volume along with the price action today. Around 6.76 lakh shares changed hands on BSE. The figure was way more than the two-week average volume of 18,000 shares. Turnover on the counter came at Rs 23.14 crore, commanding a market capitalisation (m-cap) of Rs 21,888.16 crore.

Technically, support on the counter could be seen in the Rs 321-315 zone while immediate resistance lies at Rs 360.

According to Sebi-registered independent analyst AR Ramachandran, "KIOCL stock price is bullish but overbought on daily charts with next resistance at Rs 360.  Investors should consider booking profits as a daily close below support of Rs 321 could lead to a downward target of Rs 280 in the near term."

Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi, observed that support could be seen at Rs 315 and immediate resistance at Rs 360. A sustained move above Rs 360 could push the stock towards Rs 370, with the near-term trading range seen between Rs 315 and Rs 317.

The stock traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 83.16. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The scrip has a negative price-to-earnings (P/E) ratio of 106.87 against a price-to-book (P/B) value of 12.18. Earnings per share (EPS) stood at (-)3.37 with a return on equity (RoE) of (-)11.39. According to Trendlyne data, KIOCL has a one-year beta of 1.3, indicating high volatility.

KIOCL, formerly known as Kudremukh Iron Ore Company Ltd, is a flagship company under the Ministry of Steel. As of June 2025, the government held a 99.03 per cent stake in the PSU.