About the company
NIFTY IT index & other stocks from Mid-cap & large-cap has shown a tremendous performance, where OFSS being a strong financial company has underperformed. [i]
Chart analysis
This is the monthly chart of OFSS, the stock is in the consolidation zone for years & now has given a breakout from its 2015 high with record volumes.
As per Fibonacci extension, the next target for the stock is near 6000 level, which is also similar to the range where the stock was consolidating.
How to trade
Fresh position can be initiated from the current level. As this is a monthly chart, a bigger stop loss should be considered & the time horizon should be month to year.
Target 1: 5200
Target 2: 6000
SL: Ideal SL should be closing below the recent polarity level.
OFSS
NIFTY IT index & other stocks from Mid-cap & large-cap has shown a tremendous performance, where OFSS being a strong financial company has underperformed. [i]
Chart analysis
This is the monthly chart of OFSS, the stock is in the consolidation zone for years & now has given a breakout from its 2015 high with record volumes.
As per Fibonacci extension, the next target for the stock is near 6000 level, which is also similar to the range where the stock was consolidating.
How to trade
Fresh position can be initiated from the current level. As this is a monthly chart, a bigger stop loss should be considered & the time horizon should be month to year.
Target 1: 5200
Target 2: 6000
SL: Ideal SL should be closing below the recent polarity level.
OFSS
Trade active:
After a rally, OFSS has retested the support levels. Can be a good opportunity to add more.
Trade active:
Flag pattern on daily time frame
Trade active:
trend is intact
Trade active:
After making high of 5000+, OFSS corrected back to its pivot. Now trading at bottom of DARVAS Box.
Comment:
OFSS is trading below the polarity level - which was our SL. It is trading at the 50% Fibonacci level which might be a point of reversal.