KPIT – Topped out?

IT Index NSE:CNXIT has been moving sideways for past few days.

With election results also out, there is hardly any indication that the correction in IT is over.

KPIT has been struggling around 265 levels.

I can see a Negative Divergence and a couple of bearish candles around the top.

Looking for shorting opportunities in this stock with a stop loss near 270 and first target around 235 levels.

(However, keep an eye on the result to be declared on May 23)

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