Cigniti Tech - Strength Trade
Another one of the IT stocks where the valuations are relatively cheap compared to the sector. The promoters and employees also have been buying stock in this company in the recent past. Maybe some big orders or news could be on the way in the next couple months.
Technically too the stock has a beautiful setup..Multi year breakout done..retest also done and its showing strength in an otherwise weak market. All signs of a stock thats in demand.
The Trade here is long 50% quantity at current price..50% after a breakout above 671.
SL after buying around 620 would be either 600 or for someone more positional like me in a volatile market closer to 587.
Once the 2nd buy is done keep 5% SL which should be close to break even.
Technically too the stock has a beautiful setup..Multi year breakout done..retest also done and its showing strength in an otherwise weak market. All signs of a stock thats in demand.
The Trade here is long 50% quantity at current price..50% after a breakout above 671.
SL after buying around 620 would be either 600 or for someone more positional like me in a volatile market closer to 587.
Once the 2nd buy is done keep 5% SL which should be close to break even.
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