Hexaware industries has been consistently making Higher Highs and Higher Lows since 2013 on Weekly Time frame,based on that,it is safe to assume that share will indeed breakthrough the current resistance area of 450-460.
said statement is true but my two concerns on fall on 4th May which is something we cannot ignore.. And second is inconsistency in volume.
I will prefer to wait for trend to begin and then make an entry for short profit into SWING.
Would like to know your further opinion..
akshitgarg206
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@sassy_ankit, Hey Ankit,thanks for showing interest in my Analysis. You are right to have concerns about the Big red on the chart,but a quick google search will lead you to the fact that it was the Q4/consolidated results day for the script. The results were quite positive and the YOY revenue grew by over 10%. I believe the move was caused by Exit of people with prior knowledge of the same. Also the share recovered pretty well from the same in the next week with good volumes as well. As for the inconsistency in volumes,if you do not factor in the results week and the coming week,volumes have been more or less consistent. Regards-Akshit
I will prefer to wait for trend to begin and then make an entry for short profit into SWING.
Would like to know your further opinion..