CEOShriram

Firstsource Solutions Ltd. - Up-Flag on DAILY chart

Long
NSE:FSL   FIRSTSOURCE SOLUTI
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2
FSL is in an up-trend. The up-rally on this counter went into consolidation. The consolidation got the upward breakout on a daily candle dated 2nd June 2021 and closed at Rs .146.50. This breakout is supported by increased volume . I anticipate the price target of Rs .163 in a time frame of about 5 daily candles. I suggest the stop loss at Rs .142. The risk-reward ratio is 1:3. The stop loss should be followed for first four daily candles and thereafter the profit booking/ exit decision should be based on attainment of the price target or downward crossover of 26 EMA by 5 EMA whichever is earlier.
NOTE: This idea is an attempt to predict the future price. Investment decision based on this idea, if any, shall be solely at the risk of the investor.

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