Kalyan Jewellers shares are falling continuously and are now trading at a 6-month low. Out of 15 trading sessions in January so far, Kalyan Jewellers shares have given positive closing on just 4 occasions and negative closing on 11 occasions.
After hitting an all-time high of Rs 795.40 on NSE, touched on January 2, 2025, Kalyan Jewellers shares witnessed an intense profit booking which pushed the counter into a bearish phase. During Tuesday’s trading session, Kalyan Jewellers’ share price crashed 8 percent to close at Rs 487.90 on NSE.
Based on the calculation, Kalyan Jewellers shares have now lost Rs 487 in value, or 37 percent from the peak.
So, how long does this selling in Kalyan Jewellers persist? According to Nilesh Jain of Centrum Broking, Kalyan Jewellers’ chart structure is very weak. The stock is in a downtrend and trading well below its 200-DMA. Kalyan Jewellers shares have formed a triple top chart pattern (daily chart), which indicates a bearish trend.
Kalyan Jewellers Share Price Target
“My target for Kalyan Jewellers shares is Rs 464 / Rs 450. Any pullback in Kalyan Jewellers’ share price should be utilized as an opportunity to sell on the rise. Until the stock clears the Rs 595 mark decisively, which coincides with the 200-DMA, any rise in Kalyan Jewellers’ share price will not sustain and should be seen as an opportunity to sell on the rise,” the market expert said.
The selling in Kalyan Jewellers shares came amid Motilal Oswal AMC clarifying speculation around its investments in the company. The fund house has described reports as “baseless, malicious, and defamatory.” “These baseless accusations on social media are a deliberate attempt by individuals with vested interests to malign the good reputation that our firm and leadership have built over decades,” it said in a statement.
Kalyan Jewellers is a constituent of Nifty Midcap 100 index. As per BSE data, Kalyan Jewellers shares have yielded a bumper return of 308 per cent in the last 2 years and 618 per cent in 3 years.