Share to buy: Experts say KEC International stock to give 30 pct returns in 3 months

Budget 2019 is fast approaching and the stock market experts are busy recommending shares to buy ahead of the presentation by FM Nirmala Sitharaman. IT stock KEC International is one such stock on which the share market experts are betting high. As we go by the experts' opinion, the exponential moving average of the IT counter is positive in 21 days, 63 days and 200 days making the KEC International share price highly bullish in a short-term, mid-term and long-term perspective. According to both fundamental and technical analysts, the stock is expected to give around 13 per cent in the short-term perspective while in the mid-term i.e. in three months time the KEC International share rice is expected to touch Rs 425 per stock levels. Currently, KEC International share price is Rs 330/stock.

Speaking on the strong fundamentals of the counter Prakash Pandey, Head of Research at Fairwealth Securities said, "The KEC International share price is bullish in all short-term, mid-term and long-term perspective as the exponential moving average of the IT stock is positive for all 21, 63 and 200 days. The IT company's earnings and the order book is also in a sound position. After the announcement by US President Donald Trump that he along with PM Narendra Modi would be announcing  a mega-trade deal soon, IT sector is expected to outperform other sectors at Dalal Street." 

See Zee Business video below:

#AajKaBazaar | कारोबारी हफ्ते के दूसरे दिन भी बढ़त के साथ बंद हुआ बाजार, जानें किस शेयर और सेक्टर में दिखा दमखम। #Sensex #Nifty @AnilSinghviZEE @devganrajat9 pic.twitter.com/cQLybTsQwv

— Zee Business (@ZeeBusiness) July 2, 2019

On targets that he would recommend to the stock market investors Prakash Pandey of Fairwealth Securities said, "KEC International share price is expected to give around 30 per cent return in three months period and I would recommend traders to buy the counter at current levels for at least three months i.e. for the mid-term perspective and book profit in the range of Rs 425 per stock levels."

Asked about the technical outlook of the KEC International share price, SEBI registered technical stock analyst Simi Bhaumik told Zee Business Online, "The technical chart of the KEC International counter is strong and in the short-term perspective, one can buy the counter for the target of around Rs 365 to Rs 375 per stock levels. I would also recommend stock market investors to keep on adding until it sustains above Rs 300 levels but strictly maintain a stop loss below Rs 290 per stock levels."