Recommend to Buy from a 3-6 months trading perspective Stop-loss below 560
It has been observed in the chart that NIITTECH given break out at 447.5. volume also picked up and bounce from 200day MA. watch near 440/448 for target 530/580 stop loss below 420.
On monthly chart, it is been observed that the price action is been consolidation after a long downward trend that indicates accumulation of shares. Once it closes above 103 levels on monthly chart then it shall signals a new bull wave that will produce a great investment opportunity. Keep this also in your investment watchlist and wish you gain out something out...
My guess is, it is an accumulation zone. The clue to look forward is a test of the lower end of the range with relatively lower volume, followed by a sharp rally or a green wide-ranged-bar.
Target 107 | Stop-loss 61 * Multi-week sideways consolidation (read accumulation) * Bollinger Band contraction * Momentum oscillators inching towards buy crossover
The Stock seems to have formed the bottom and being accumulated, Buyers/Investors find that it cheap at current price level thus buying emerges. One can enter now with small Stop loss entry which offers decent risk to reward ratio.
Price has been bounded by the support and resistance zone. Price action on Friday indicates buyers are still active near the lower lend of the zone. A breakout past upper end of the red-zone would bring 133 into reckoning
Price seems to be setting up nicely for a rally. It has to clear a few resistance though. Sort out those levels and plan a trade accordingly. Worth having this one in watchlist.