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Yes2Profits
Aug 29, 2021 5:43 PM

CAMS - Bullish BreakOut Long

COMPUTER AGE MNGT SER LTDNSE

Description

The stock has broken out of the descending pattern supported with high volumes.

We can go long within a buying range of 3350-3435 for a target of 3670.
Stop loss can be kept at 3265.

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Trade closed: target reached

Target 1 reached on 31st August

Trade closed: target reached

Target 2 reached on 1st Sept.
Comments
B454545
now cams downside target from this level ?
Yes2Profits
@B454545, support should be at 3740 and 3670 on the downside.
B454545
now what about cams?
Yes2Profits
@B454545, the stock still looks bullish to me as the volumes are low during the consolidation phase. If it drops below 3670, the next support is at 3545.
B454545
@Yes2Profits please share updated views
Yes2Profits
@B454545, I think it should find some support around 3380-3400 levels now. Any further breakdown can have major downfall.
B454545
next target of CAMS?
Yes2Profits
@B454545, looking at the fibonacci retracement, if the stock crosses and sustains above 4050, the next resistance will be at 4440
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