Long
LONG POSITION SWING TRADE OPPORTUNITY. TARGET 5600
OK THIS is my second analysis after fairchem , for which i updated when i sold .
The IT sector as a whole down due to external circumstances , No internal issues in almost all the it companies.
Considering this opportunity to invest or even trade for short term gains . I prefer mid cap which has better safety against sell off and higher profit percentage margin.
1 . LTI has been consolidating and formed a clear CUP AND HANDLE PATTERN .
2. It has taken support 4 times on a higher time frame .
3. The price sustained even when nifty had a major fall.
4. The handle breakout can push the stock price to 5100-5600.
5. HOLD for next 2-3 months with results upcoming for the SEP quarter .
The IT sector as a whole down due to external circumstances , No internal issues in almost all the it companies.
Considering this opportunity to invest or even trade for short term gains . I prefer mid cap which has better safety against sell off and higher profit percentage margin.
1 . LTI has been consolidating and formed a clear CUP AND HANDLE PATTERN .
2. It has taken support 4 times on a higher time frame .
3. The price sustained even when nifty had a major fall.
4. The handle breakout can push the stock price to 5100-5600.
5. HOLD for next 2-3 months with results upcoming for the SEP quarter .
Note
Added more quantity as the price has taken support with reasonable volume .As observed the company repeatedly shows very good SEP QUATER results in previous years . Profits start declining after December quarter.
Maintaining HOLD for SWING And LONG TERM INVESTOR . Fundamentally very strong company.
4400-4600 KEEP adding .
Trade active
Exited position in LTTS today and added more quantity in LTI. Upcoming September quarter results.
LTI seemed better option against LTTS .
Lets see. Will hold for a while Lets see.
Trade active
Price took perfect support with volume and is handling global pressure quiet well .Added some quantity at 4650.
Result tomorrow 15 October ,
Almost all the IT companies have shown good result , Mindtree exceptional result and Wipro being the worst .
Even decent result from LTI will help push the price above 5200 .
Hold tight Remain invested.
Trade active
One more thing expect major uptrend move after proper breakout of 5100 price .
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.