Daily Chart Pattern
Positive Volume Buildup
Can give good 10% - 20 % gain
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 20.53%
Debtor days have improved from 104.84 to 82.09 days.
The company has delivered a poor sales growth of 1.94% over past five years
I am not a SEBI registered...
Birla Soft is very good and strong fundamentally.
On charts its looking ready for good moves.
But market sentiments are important.
Will initiate trade once resistance are broken with good volumes.
##Always do self analysis before you trade. Profit is yours and so is your loss. ##
1. We started with Daily chart to find the bias (buy/sell) & we found it is an uptrend move with price at trendline.
2. We changed to 4H and 2H chart frame to check any king of buyer's entry or green candle forming. (Able to spot 2 green candles)
3. We changed back to Hourly and later 30 Min chart to mark the key zones in short-term basis.
The company is...
Birla soft broke its narrow range (by making symmetric triangle) and its long term (2 yrs) resistance (174) in previous day session with good volume, this is its second attempt to break this level. Its a good and safe buy above 188 if sustained for new highs WSL 175.
If retraces back to 176-174 and makes a good bullish candle then its the best scenario to buy this counter.