NIIT Tech: Gearing up For A Nice Rally

Notice how the sequence of lower highs and lower lows was halted and price flipped around since September lows. Am watching this stock for a breakout above 450 to add more to my holding.
Comment: Word of Caution: Have a look at the updated chart of the stock.
Notice the spike in volume on Friday. The spike in volume is occurring right at the prior zone where a similar green candle with volume spike happened few weeks ago. Price then correction about 10% from the highs.

The inability to cross the recent highs, despite the volume spike, makes me slightly cautious / worried. A red candle on Monday (Oct.17) would mean that the stock is still not attracting big buying interest.

Better to wait for the price to clear the green line at 452+ before considering big ticket long positions.


Beautiful Analysis. My view on it was similar to yours
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out