1) On 1day time frame, we can see 480 as immediate support and also see a support channel.
As far as it is sustaining above this, it has potential to give up move.
Immediate major resistance is at 500. Breakout of it will lead a good up move.
Please refer below chart : 1day time frame.
Industry: IT Consulting and Software
The stock is discounted at 17% from all time high levels.
1. Formation of Inverted Head and Shoulders Pattern
2. Positive Crossover of 5, 13 Days Exponential Moving Average
3.Target 1 would be Length of shoulder i.e 520 levels
4. Target 2 would be Length of Head i.e all time High levels i.e 580...
On daily Chart Inverted Head & Shoulder formation
With Resistance Zone near 481-487 levels
Buy above 487 levels for positional targets of 510-535-550-570
Keep Mid term view
Above levels are for education purposes only
Do your own analysis before taking any trade
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Birlasoft (India) Ltd - 25.03.2022
The stock is trading @ 465.90 levels
The stock has made a DOUBLE TOP @ 486 levels
The prices are above EMA
There is a ENGULFING BEAR in Daily Charts
There is a SHOOTING STAR in Weekly Charts
There is a MACD Bearish Divergence in Daily Charts
RSI is 53 in Weekly Charts (It will be risky for making a Short Position in this...
Birlasoft is showing bullish divergence on daily time frame. Go for Long from here.
Current Price: 469 rs
Good Entry Point: If close above 462 rs
Target: 505 rs (1st) - 570 rs (2nd)
Stop Loss: 438 rs
Probability: Positive for Long position
Risk Reward Ratio: 1:4
Please share with your family and friend if you like the idea to go long. This...
if find perfect reversal then only short for swing.
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On...
BIRLASOFT emerged out of 22 weeks of consolidation. The stock has consistently remained above weekly 30 ema. This ensures the stock is strong. When the stock breaches the 30 weekly EMA, then we need to be cautious.
Currently, RSI around 70 and in upward trajectory denotes positive momentum
Also, important point to note: RSI has very rarely breached 60 with...
BSOFT 1 D time frame - Good move is expected in this IT stock.
Can go for short term if a good candle settle above the marked zone.
Previously it was consolidating in tight range.
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This is only for educational purpose.
Please consult your advisor before making any trade or investment.