It is clear that the share price of CYIENT increases in the band of 10-20% based on Earnings Calls.
This Quarter, we have already seen the positive earnings report from Infosys, Wipro and Mindtree yesterday i.e. 13th October. CYIENT is expected to release its earnings today i.e. 14th October Considering the strong performance by the company in recent 4 quarters and the in general positive outlook from IT sector, it will be interesting to see if CYIENT can repeat this impulse wave this earnings report or will we see an anomaly this time. The targets can be inferred from the Fib lines drawn.
Trade closed: target reached
⋅
It went as expected. From a low of 1070, the price increased 7% on the day of the results, and a further 13% in the next 6 days to reach the 20% bracket of 1284+ Following with a close stop loss now to 1300 and 1350