Stock Radar: Cyient stock showing signs of turnaround after over 30% fall from highs; what should traders do?
Cyient Ltd, after rebounding from Rs 1,000 in April, faces resistance around its 200-week moving average. Experts suggest medium-term, high-risk traders consider buying with a target of Rs 1,600 within 3-4 months. A bullish Inverse Head & Shoulders pattern breakout in May 2025 supports this potential upward movement if it sustains above the long term moving average.
Cyient Ltd, part of the IT-enabled services industry, bounced back after testing 1,000 levels earlier in April. However, it is now trading around the critical resistance placed around 200-weeks moving average on the weekly charts.Medium-term traders with a high-risk profile can look to buy stock for a target of Rs 1,600 in the next 3-4 months, suggest experts.The stock hit a high of Rs 2,156 on June 16, 2024, but it failed to hold the momentum.
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