The present support base as mentioned is a planned long entry, which is supposed to be a shakeout..
What happens after that support base is formed will be interesting...
what breaks the schematics if the correction goes on to the 1.62AB=CD level as mentioned in the lower portion of the chart , below the 62% correction level..at the price of 138 around...
Personally this is a very long term scrip for me , so no stop loss used....
the visibility about the punjab receivables come back within this fiscal , as budgeted by the punjab government and the new UK contract with strategic alliance with Sopra Steria, which is a french IT company, definitely calls for a good trajectory in the vision, in such a scenario, it wont be surprising to see the Wyckoff reaccumualtion schematics in the sub 200 price range..
the UK contract is worth 100billion rupee with a 3 year tenure, extendable upto 5 years... VAlue added services to be changed extra over and above this base rate...
Basically, what the UK contract does is, it will atleast offset , the punjab revenue loss, for which the market did a massive knife fall and downrated the stock..
The wyckoff schematics is believed to be in phase A now...
The punjab revenue that is still being clocked in the notice period which is being served till june 2018, will cease to be exist in Q2fy19..
so Q2 result is expected to be the poorest of all the quarterly earnings in past 1 year plus... further shakeouts are expected during that time later this year... The earnings are expected to pick up form Q2 onwards when the uk contract is expected to generate revenue..
Back in january 2018, when the punjab news hit the exchanges officially, i had a conversation with the CFO and the management, where they mentioned about this UK contract didnt name it then, but mentioned it to be huge project thats incoming] and along with it they mentioned 1 to 2 more projects that are gonna come in later half of the year....
In the conference call, they were mentioning that VFS still handles the international visa processing to UK, the contract to be remain effect only till q3fy19 around, which they also expect to outbid and bag it...
Keeping in line with the possibility of gaining incremental market share in the lucrative visa processing business and the robust untapped potential in the egov space both nationally and internationally, bls international is definitely one of the scrips i am bullish about in the very long run,...
Disclaimer.. Invested and averaging...
Not an investing/trading recommendation
What happens after that support base is formed will be interesting...
what breaks the schematics if the correction goes on to the 1.62AB=CD level as mentioned in the lower portion of the chart , below the 62% correction level..at the price of 138 around...
Personally this is a very long term scrip for me , so no stop loss used....
the visibility about the punjab receivables come back within this fiscal , as budgeted by the punjab government and the new UK contract with strategic alliance with Sopra Steria, which is a french IT company, definitely calls for a good trajectory in the vision, in such a scenario, it wont be surprising to see the Wyckoff reaccumualtion schematics in the sub 200 price range..
the UK contract is worth 100billion rupee with a 3 year tenure, extendable upto 5 years... VAlue added services to be changed extra over and above this base rate...
Basically, what the UK contract does is, it will atleast offset , the punjab revenue loss, for which the market did a massive knife fall and downrated the stock..
The wyckoff schematics is believed to be in phase A now...
The punjab revenue that is still being clocked in the notice period which is being served till june 2018, will cease to be exist in Q2fy19..
so Q2 result is expected to be the poorest of all the quarterly earnings in past 1 year plus... further shakeouts are expected during that time later this year... The earnings are expected to pick up form Q2 onwards when the uk contract is expected to generate revenue..
Back in january 2018, when the punjab news hit the exchanges officially, i had a conversation with the CFO and the management, where they mentioned about this UK contract didnt name it then, but mentioned it to be huge project thats incoming] and along with it they mentioned 1 to 2 more projects that are gonna come in later half of the year....
In the conference call, they were mentioning that VFS still handles the international visa processing to UK, the contract to be remain effect only till q3fy19 around, which they also expect to outbid and bag it...
Keeping in line with the possibility of gaining incremental market share in the lucrative visa processing business and the robust untapped potential in the egov space both nationally and internationally, bls international is definitely one of the scrips i am bullish about in the very long run,...
Disclaimer.. Invested and averaging...
Not an investing/trading recommendation