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Persistent Systems: A Promising Opportunity?Persistent Systems is currently trading in an ascending channel, indicating an ongoing uptrend 📈. After correcting nearly 20% from its all-time high (ATH)—which coincided with the channel top—it has now broken above a key trendline with strong volume and a wide-range bullish candle 💪. 📊 Key Technical Analysis: 🎯 Entry: ₹6,365 ⛔ Stop Loss (SL): ₹5,538 (closing basis) 🏁 Targets:T1 (Previous ATH): ₹6,790 (+7%) Positional Target: ₹7,681 (+21%) Long-Term Target: ₹9,094 (+43%) 📌 Technical Highlights: 1⃣Persistent has bounced back from the 50 DMA, showing strong respect for this critical support level 2⃣Closed above the 50 DMA with a strong bullish candle (minimal upper wick, significant volume). 3⃣Trendline Breakout 4⃣RSI is rising, indicating upward momentum. 5⃣Channel top could act as resistance—keep an eye on price action near T1 levels. 🧮 Position Sizing:Start with 20-30% of your planned allocation at ₹6,365. If ₹6,790 is broken with volume, consider adding more. Partial profits can be booked at T1, with the remainder trailed for higher targets. ⚠️ Respect the SL (Stop Loss), as it represents a 12.45% risk. 📈 Why Persistent Systems Looks Attractive for Long-Term Consideration: 1. 🌟 Growth Drivers: AI Integration: AI is a core focus for Persistent’s growth strategy, with significant investments in AI-driven solutions 🤖. Strategic Acquisitions: Acquisitions like Starfish Associates (contact center modernization) and Arrka (digital governance and AI cybersecurity) enhance Persistent’s offerings. 📊 Revenue Momentum: The company has reported 18 consecutive quarters of revenue growth, recently achieving a robust 18.4% YoY increase. 🏆 Industry Recognition: Named the fastest-growing IT services brand in the 2024 Brand Finance India 100 report, highlighting its competitive edge. 2. 🛠️ Expansion Plans: Focused on AI-led, platform-driven services to drive innovative solutions for clients. Strengthened executive leadership to support non-linear growth through mergers, acquisitions, and large deals. 3. 💹 Respecting Key Support Levels: Persistent has consistently respected the 50 DMA, a strong indicator of investor confidence and support at this level. These factors, coupled with the company’s strategic focus on AI and consistent execution, make Persistent Systems an attractive consideration for long-term investment. 🌍 Broader Sector Context: The IT sector is holding up well despite market volatility, and Persistent’s positioning in emerging technologies like AI ensures it is aligned with future trends 🔮. 💡 Final Thoughts: This trade is against the trend, so trade light and manage risk effectively ⚖️. The channel top could pose resistance, but the overall structure and long-term prospects are promising. The probability of trades failing is high when the market is in a downward trend. Please keep that in mind. If you find this analysis insightful, like and share to help others make informed decisions 👍. Follow me for more educational trading ideas and detailed stock analysis 📚. ❗ Disclaimer: This is for educational purposes only. Please consult with your financial advisor before making any trading or investment decisions.
NSE:PERSISTENTLong
by sagartharayil
Kaynes bouncing from channel support and 50 D #Kaynes Technology. Looks good for a Swing. Entry: Buy Small quantities in CMP(6547) Stop Loss (SL):Marked at ₹5,806.30, Target (T1): ₹7,697 ✅Channel Pattern: The price is moving within an ascending channel, respecting both the upper and lower trendlines. The recent pullback appears to have tested the lower trendline support, followed by a bounce. ✅The stock is trading above the 200-day moving average (yellow line), signifying a bullish long-term trend. ✅Stock Takes support at 50 DMA. Right now it is bouncing from channel support and 50 DMA. ✅A sharp green candle on strong volume indicates renewed buying interest at current levels. 📎Strategy: Buy at CMP in small quantities to reduce risk, as per the chart's suggestion. 📎Watch for:A strong close above the middle of the channel for confirmation of bullish momentum toward the target. Exit the trade if the price breaches the ₹5,806.30 stop-loss level. ⚠️Overall Trend is bearishI'm Not sure if this is the beginning of a bear market or a Bull Market Correction. So keep the positions limited. Do not go full-on. Keep your capital safe and manage the risk properly.
NSE:KAYNESLong
by sagartharayil
Bullish momentum expected #breakoutAffle has been in a price and time correction from a long time. BUY reasons: 1. 50 DMA reclaimed with good volumes 2. Trendline broken and sustained. 3. Consistent Exceptional results from the company. Cautious points: Promoters decreasing their stake Stock in NSE ASM list , hence in trade-to-trade category with dried volumes. Stock is ready to be bought, but the trade is a bit risky, SL of 3950 and targets of 5075 can be achieved within some months. Quality stock at good price, once it gets out of trade to trade, it can do really well.
NSE:AFFLELong
by deep_shah08
Is there a bearish case for Nifty?Looking at the above Daily chart of the Nifty 50 index, it is clearly observable that the index is in an uptrend. Not just that, the 50DMA (red) is above the 100DMA (purple) which is above the 200DMA (green), indicating strong bullish trend in place. Since Mar 2020, at four different instances (as highlighted in the chart), the index has taken support at one or more of these moving averages, bounced back and resumed its uptrend. The last such instance happened on 26 Feb when Nifty bounced off the 50DMA toward its ATH of 15431, which also happens to be very close to the 1.618 Fibonacci level of 15479. If the index crosses this level of 15479, we will see momentum buying resuming and uptrend continuing toward 16000, even 20000 won't be impossible to reach. On the bearish side, there is no bearish case till Nifty closes below 50DMA and below 100DMA. If 100DMA is breached, 200DMA will probably be touched very soon and we can see 12000 odd levels on the index, which also coincide with the pre-Covid Jan'20 high of 12430. Until Nifty closes below 100DMA of 13700 zone, we don't see any bearish case for Nifty. There may be another buy on dips opportunity around 14700 and before the index resumes its next leg higher.
NSE:NIFTYLong
by vipulmehta817