BIRLASOFT - LONG TERM - HARMONIC Bullish Bat Harmonic completed on daily TF.
Potential Targets marked based on Fib retracement.
Security is still in the bearish zone, trading below 20 EMA.
Birlasoftlong
BIRLASOFT (BSOFT): Simple Technical Analysis on weekly chartBIRLASOFT 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 strength, and when it did it has quickly recovered and continued in its upward journey.
Target of 550 in the short to medium term.
